What is a home equity line of credit?

A home equity line of credit, or HELOC, is a revolving credit line. It’s secured by the equity you’ve built in your home and can be used as needed — like a credit card. You only pay interest on what you draw from your HELOC.

Home equity line of credit rate1

  • %APR

Rates range from 7.95% APR to 11.70% APR and are subject to change at any time. Lowest rate assumes a credit limit of $100,000, loan to value (LTV) for 70%, FICO score of 730 or higher and a U.S. Bank personal checking account.

Take the next step

Prequalification helps you see how much you might be able to borrow, without affecting your credit score.

How to get a home equity line of credit

The process for getting a HELOC is simple.


Complete a basic application. You can do this online, by calling 800-642-3547, or by visiting a U.S. Bank branch.


Submit requested documentation.


Close on your HELOC at a local U.S. Bank branch.

Benefits of a home equity line of credit

Low cost

Because HELOCs are secured, they typically have lower rates than personal loans or credit cards. In addition, there are no application fees or closing costs1 and the interest may be tax deductible.2


With HELOCs you can borrow funds over time as needed. They also offer flexible repayment options, including interest-only payments for those who qualify.

Convenient access

You can draw on your HELOC by using convenience checks, transferring money to your U.S. Bank checking account or by visiting a branch or ATM. You can also use your Visa® Access Card anywhere Visa® is accepted.

What could you do with a HELOC?

Home improvements

Whether you’re looking to remodel your kitchen or build an outdoor living area, a HELOC can be a great option.

Not sure what your home improvement project could cost?

Debt consolidation

You may be able to save money by using a HELOC to consolidate higher-cost debt, such as credit cards and student loans.

Major purchases

If you’re planning on funding major expenses, such as college tuition, the flexible as-needed availability of funds and the low interest rate may make a HELOC a wise choice for financing.


Get answers to frequently asked questions about home equity lines of credit (HELOC).