Updated June 29, 2026 · By the MoneyAtlas Editorial Team
Pros
Accessible Qualifications: Relaxed underwriting criteria accepts borrowers with credit scores as low as 620
Predictable Initial Rates: The initial draw is locked in at a fixed rate for the life of the loan
Cons
Geographic Restrictions: This HELOC product is currently not offered in New York, Kentucky, West Virginia, Delaware, and Maryland