See how much of your home you actually own — and roughly how much of it you could access through a HELOC or a HELOAN. Self-employed? There are paths that don't require tax returns.
Estimates assume a combined loan-to-value (CLTV) of up to 85% for a HELOC and up to 90% for a HELOAN on an owner-occupied home. Investment properties and self-employed files use different limits — Derek will confirm yours.
HELOC = (property value × 85%) − mortgage balance. HELOAN = (property value × 90%) − mortgage balance. Actual limits depend on credit, occupancy, documentation, and lender guidelines. Illustrative only — not a commitment to lend.
Both tap your equity — one is a flexible line, the other a fixed lump sum.
| Feature | HELOC (Line of Credit) | HELOAN (Home Equity Loan) |
|---|---|---|
| Structure | Revolving line you draw from as needed | One fixed lump sum up front |
| Rate | Usually variable | Usually fixed |
| Best for | Ongoing or uncertain needs, reserves | A known one-time expense |
| Payments | Based on what you draw | Fixed from day one |
| Typical CLTV | Up to ~85% | Up to ~90% |
| No-tax-return option? | Yes | Yes |
Self-employed and worried your tax returns won't support a home equity line? They don't have to. Bank statement and asset-based HELOCs and HELOANs let you tap California equity without tax returns — including on investment properties. Read the full HELOC California guide, or get an exact number below.
Tell Derek about your property and what you want to do with the equity. You'll get a clear read on your real HELOC and HELOAN options — including no-tax-return paths for the self-employed.