A home equity line of credit, or HELOC, lets you borrow against your home’s available equity.

Your equity is determined by subtracting the value of your home from the mortgage balance owed. Additionally, you can build equity if the value of your home increases as a result of changes in the housing market or improvements you make to the property.

The accessible amount is mainly based on your home equity, typically a percentage of its value minus your mortgage balance. Synergy One Lending also evaluates your credit, income, and debt-to-income ratio to establish your borrowing limit. Contact our experts for a personalized assessment of your potential HELOC funds.

In most states, Synergy One Lending offers loans ranging from $20,000 to ^‡$750,000 with fixed terms of 5, 10, 15, and 30 years.

At the time of funding, you will get the full amount of the loan proceeds, less the origination fee.

If you have any additional questions regarding eligibility or property requirements, please call us at 1-888-373-0535 or email us at applynow@synergyoneheloc.com.

^‡ Loans over $400k will require a full in-person appraisal, borrower paid, in flow

You can utilize a home equity line of credit for things like debt consolidation, home improvements, or any other major purchase of your choice.

Applying for a HELOC with Synergy One Lending is fast and easy. Our application is fast, easy, and all online. Our application uses a soft-credit inquiry and an automated home valuation to provide you with an instant qualification decision. If pre-approved, you’ll be instantly presented with your offer options.

• • Only one owner may apply for and sign for the loan through Synergy One Lending; however, additional owners on the title must sign the mortgage documentation.

• • A verification of your minimum credit score of 620 is required. Applying won’t have an impact on your credit score. We pull what is called a soft inquiry. However, a hard inquiry will be pulled after selecting your rate and term, which could impact your credit score.

• • During the application process, we’ll electronically verify your assets and income. Please prepare your login information for your bank accounts (for assets), your payroll service provider (for income), or your tax provider (for tax returns). Please be advised that while you can manually upload these documents, doing so will cause the process to take longer.
  • Identity verification is necessary so please have a valid, US-issued ID on hand, such as a driver’s license, state ID, passport, or permanent resident card, as identity verification is necessary.

Synergy uses an Automated Valuation Model (AVM) to calculate the worth of your property, eliminating the need for an in-person appraisal. This model takes into account metrics such as recent sales of similar properties, public data records, and historical price trends in the housing market to reach an assessment of your property’s worth.

Considering a home equity loan or refinance? Synergy One Lending provides expert guidance to help you navigate these options. A home equity loan offers a straightforward way to borrow a specific amount with predictable payments, while a refinance can provide cash-out options and potentially adjust your interest rate or loan term. Trust our team at Synergy One Lending to offer personalized advice and transparent information, empowering you to choose the best path for your financial goals.

Considering a Home Equity Loan or Second Mortgage? Synergy One Lending offers clear, personalized guidance to help you understand the distinctions. A Home Equity Loan typically provides a fixed-rate lump sum, ideal for specific projects, while a Second Mortgage has its own terms and implications for your existing mortgage. Trust our experts at Synergy One Lending to provide transparent insights and competitive rates, empowering you to choose the best option for your financial needs.

Yes, with our solution, self-employed individuals can access the equity in their homes. One of the most frequent uses of HELOCs by self-employed people is for business purposes. During the application process, we’ll attempt to electronically verify your income and assets. Please have your login information for your bank accounts (for assets) and tax provider login (for income). Please note that while you can manually upload these documents, doing so will cause the process to take longer.