Nothing is submitted and nothing touches your credit. This is arithmetic on the numbers you type.
Payments shown are principal and interest on the line only. They exclude property taxes, homeowners insurance and any HOA dues, and they exclude your first mortgage payment.
Estimate only. Not an offer of credit, a rate quote, a rate lock or an application, and not a commitment to lend. Indicative rates as of Aug 19, 2026; your terms depend on credit, combined loan-to-value, occupancy and line size, and on the lender's approval. Secured by your home. Full disclosures.
Two fields. We email your application link rather than dropping you straight into it, because opening that link is how we confirm the address belongs to you before any of your information goes into a file.
Use one you can open now. The link normally lands within a minute and takes about two to complete, because we only ask what is needed to check your credit: legal name, date of birth, current address and Social. Do it in one sitting, the link is good for 24 hours. Nothing is pulled on your credit today; at the credit step we ask your permission first, and it is a soft check that does not affect your score.
By continuing you agree we may email you about your inquiry and your application. Speak Straight Mortgage · NMLS #2426226 · Privacy Policy · Equal Housing Opportunity.
This is the part that surprises most homeowners. An equity line is not a small mortgage with the same paperwork. On most files the heaviest three steps of a refinance either shrink or disappear.
Most lines are valued by automated model instead of a full appraisal. Depending on the program that covers lines up to $400,000 to $500,000, which is the large majority of what we write.
Above that a full appraisal is required. A very high combined loan-to-value can also trigger a second valuation.
Getting qualified takes a soft inquiry only. It does not move your score and no other lender can see it. A full report comes later, and only if you decide to go ahead.
The primary method is a secure bank or payroll connection — Plaid, or The Work Number. It runs in the moment and usually ends the income conversation right there.
If that does not work, documents still do: paystubs, W-2s, 1099s, 1040s, tax transcripts, and on some programs business bank statements for self-employed borrowers.
Underwriting runs off a deterministic rules engine rather than sitting in a stack waiting on a human, so decisions come back quickly and the same file gets the same answer every time.
On some programs the money then lands in a bank account you linked during the application, automatically, once the rescission period clears — there is no separate draw request to remember.
On timing, plainly: under a week is what normally happens on these, not the best case we have ever seen. It is also not a commitment, and anyone promising you a closing date before they have looked at your file is guessing. What actually moves it is the valuation result, title, whether your income connects electronically, and how fast documents come back. We will give you a real date once we have seen the file, and we will tell you if yours is going to be one of the slower ones.
Not every one of these is on every program. That is the reason to shop it rather than take the first offer your bank sends.
Rate, balance, payment and payoff date are untouched. The 3% mortgage you got in 2021 keeps being a 3% mortgage.
People assume every equity line floats with Prime. Several programs give a fixed rate on the money you draw, so the payment does not move when the Fed does. Variable is also available when the shorter horizon makes it the cheaper answer.
Wage earners are the easy case. These programs also take self-employed, retired, Social Security, pension and 401(k) income rather than treating it as an exception.
Combined with your first mortgage. Higher combined loan-to-value costs more in rate, but the money is reachable rather than theoretical.
The range across programs is wide enough that a kitchen and a business acquisition are both normal requests.
It is a line, not a lump sum. Undrawn money costs nothing on most programs, which makes it a reasonable standby reserve.
On several programs re-drawing the line after you have paid it down costs no new fee at all.
Some programs run interest-only for the first three years. Useful for a bridge, or a renovation you intend to refinance out of, as long as you go in knowing the payment steps up afterward.
Equity lines reach further down the credit scale than most people expect. Some programs also read a VantageScore, which helps borrowers with thin traditional files.
Not just the house you live in. Investment property lines exist, at their own rates and lower combined loan-to-value caps.
If you own the home free and clear, an equity line can sit in first position and usually prices better there.
On some programs employment verification and title work sit as post-closing conditions before funding rather than gates in front of your signing date. Hazard insurance is not required at all on some second liens.
Several programs pay for the in-person signing and the title insurance themselves, so those do not land on your closing costs.
On the programs we place most often, paying it off early costs nothing. Several also carry no annual fee, and some cover title and notary.
Card balances in the twenties against a line in the high single digits. The saving is real, but you are moving unsecured debt onto the house. Worth doing deliberately.
Draw as the work is billed instead of borrowing the whole budget on day one.
Equity out of the current home becomes the down payment on the next one, without a contingency weakening your offer.
Equity in the home you have, deployed into the one you want.
Usually cheaper than a business line of credit, and far cheaper than a merchant advance.
Opened while you qualify comfortably, sitting unused until something happens. Qualifying is easier before you need it.
Your first mortgage. Rate, balance, payment, payoff date, all untouched. You are adding a second loan behind it, not rewriting the first one.
For anyone holding a rate in the 3s or low 4s, refinancing the whole balance to reach $80,000 of equity is usually the more expensive way to get the same money.
The line carries a higher rate than a first mortgage, because it is in second position. It is also variable on most programs, tied to the Wall Street Journal Prime Rate, so the payment moves when Prime moves.
The trade is a higher rate on a smaller balance against a lower rate on a much larger one. Which wins depends on your first mortgage rate and how much you are drawing.
If your current rate is at or above today's market, there is no low rate to protect and a cash-out refinance is often cheaper on total interest.
We will run both. If the refinance is the better answer we will say so, including when that means we write a smaller loan.
| Factor | Why it matters | Range it moves |
|---|---|---|
| Credit score | The single biggest input. Every program prices in bands, so crossing a band line is worth more than moving within one. | Roughly 5 points of APR across the full span |
| Combined loan-to-value | Your first mortgage plus the new line, over the home's value. Staying at or under 80% prices materially better than going to 90%. | 2 to 3 points |
| Occupancy | The home you live in prices best. Second homes and rentals price higher and cap out at lower CLTV. | Around 1 point |
| Line size | Programs have minimums near $25,000 and step down in price as the line grows. Very large lines re-tighten on CLTV. | Varies by program |
A one-time fee between 1.9% and 4.9% of the credit limit on the programs that charge one, or a fixed origination percentage set by state, which is 2.39% in Colorado on the programs priced that way.
Typically $0 to $2,500 depending on the program, county recording charges, and whether a full appraisal is required instead of an automated valuation. Several programs cover title and notary.
No annual fee on the programs we place most often, and no prepayment penalty. Some programs charge nothing to draw again once you have paid the balance down.
These are program ranges, not your quote. Which one applies depends on the program you qualify for and the county you are in, and we will put the exact number in writing before you commit to anything.
Every one of these is a real Google review of our team. None of them is about a rate — they are about what the process felt like.
“His timeliness and communication were crucial in helping us close in a very time-sensitive situation. He was responsive, caring, knowledgeable, and went above and beyond to make sure everything stayed on track.”
Google review“I have heard over and over again how stressful the home buying process is, and my experience couldn’t have been more different. From our first meeting, Matt and team were clear, prompt, and easy to work with.”
Google review“He explained everything clearly and efficiently, making the loan process as painless and easy as humanly possible while being extremely friendly and professional.”
Google reviewOne email gets you your application link. We price your file across every equity lender we work with, and qualifying uses a soft credit check that does not affect your score.
Email me the application link →Rates. The 6.24%–14.85% annual percentage rate range shown reflects rates available on Colorado owner-occupied home equity lines of credit as of August 19, 2026, for the credit scores, combined loan-to-value ratios, and line amounts indicated. Rates shown are not an offer of credit and are not available to every applicant. Your rate depends on your credit, combined loan-to-value, occupancy, property type, line amount, and the program you qualify for.
Fixed and variable plans. Both are available. On a fixed-rate plan the annual percentage rate on the amount you draw does not change. On a variable-rate plan the annual percentage rate is based on the Wall Street Journal Prime Rate, which was 6.75% as of the date above, plus a margin. On a variable-rate plan your annual percentage rate can increase when the index increases, and your payment will increase with it. The maximum annual percentage rate that can apply is 18.00%. Which plans you qualify for depends on your credit, combined loan-to-value, occupancy and line size.
Fees to open the plan. A one-time fee of 1.9% to 4.9% of the credit limit applies on some programs. On other programs a fixed origination percentage set by state applies, which is 2.39% of the credit limit in Colorado. Estimated other costs to open the plan range from $0 to $2,500 and may include county recording charges, recordation taxes, and, on larger lines, a full appraisal. On some programs the fee is financed into the credit limit, which means the credit limit will be larger than the cash you receive.
Not a commitment to lend. Nothing on this page is an offer or a commitment to lend, an approval, a rate lock, or a guarantee of financing. Programs, rates, terms and conditions are subject to change without notice and may be withdrawn at any time. All loans are subject to credit approval, income and asset verification, acceptable title, satisfactory property valuation, and the lender's underwriting guidelines in effect at the time of closing. Not all applicants will qualify, and not all products are available in every state or for every property.
We are a broker, not a lender. Speak Straight Mortgage LLC arranges home equity lines of credit through third-party lenders. We do not make credit decisions and we do not fund loans. The lender sets the final rate, fees, terms and conditions, and the lender's disclosures govern. Any figure we give you before you receive the lender's own disclosures is an estimate.
Your home secures this loan. A home equity line of credit is secured by a lien on your home. If you do not meet the repayment terms you could lose your home. Property insurance is required, and flood insurance is required where the property sits in a designated flood zone. If your plan has an interest-only draw period, your payments during that period do not reduce the principal balance, and your payment will increase when the repayment period begins.
Right to cancel. On a home equity line of credit secured by your principal residence you generally have the right to cancel the transaction within three business days after closing, after receiving your notice of the right to cancel, or after receiving the required disclosures, whichever is latest.
About the estimator. The calculator on this page is for illustration only. It uses figures you enter, has not been verified, and applies indicative rates and assumptions of our own, including a twenty-year repayment period. It does not reflect your actual property value, your actual credit, your actual combined loan-to-value, or any lender's underwriting. It is not a credit decision, a rate quote, a rate lock, an application, or an offer of credit. Your real terms will differ.
Your information. Submitting the form on this page does not create an application for credit and does not obligate you to anything. Nothing on this page pulls your credit. If you go on to be prequalified, that step uses a soft credit inquiry, which does not affect your credit score and is not visible to other lenders, and we will ask for your authorization before obtaining it. A full credit report is pulled only later, with your separate consent, if you proceed to a formal application. Your information goes only to Speak Straight Mortgage; we do not sell it. See our Privacy Policy.
Taxes. Interest on a home equity line of credit is not always tax deductible, and deductibility depends on how the funds are used and on your circumstances. Consult a tax adviser. We do not provide tax, legal or accounting advice.
Licensing. Speak Straight Mortgage LLC, NMLS# 2426226. Matthew Wentz, NMLS# 1852397. Licensed in Colorado and regulated by the Colorado Division of Real Estate. Verify our licensing at NMLS Consumer Access. This page is an advertisement directed to residents of Colorado. Equal Housing Opportunity.