Home Equity Line of Credit (HELOC) for Renovations

About This Program

A Home Equity Line of Credit (HELOC) allows homeowners to borrow against the equity in their home for renovations, repairs, or improvements. Interest on HELOCs used for home improvements may be tax-deductible. Given LA's high home values, many homeowners have substantial equity available for major renovations.

Loan product — interest accrues; monthly payments required during draw period

Key Details

• Borrow against home equity for any renovation or repair
• Interest may be tax-deductible when used for improvements
• Flexible draw periods typically 10 years
• Requires sufficient equity and qualifying credit
• Compare rates at multiple lenders; CFPB at consumerfinance.gov

How to Apply

Deadline: Rolling — through private lenders