Modern home representing mortgage and homeownership opportunities

Your Home Equity Journey Starts Here

UNLOCK YOURHOME'S POTENTIAL

Access equity with the right HELOC for how you draw funds. Lightning funds the full line at closing with redraw; Flex typically starts with a large share of the line, then the rest when you need it.

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NMLS #1820789

What you'll get

Two clear HELOC paths

  • Lightning: 100% online—full line at closing, then redraw.
  • Flex: not forced to take 100%—typical ~75% start, then the rest.
  • Soft-pull options check on Lightning (no credit impact to explore).

No commitment required · Free consultation

The Biggest Difference

Both are HELOCs. How you take and reuse funds is what sets them apart.

Lightning Equity

100% of your approved line is disbursed at closing. As you pay it down, you can redraw available credit until the draw period ends.

Flex Equity

You are not required to take the full line at closing. A typical starting draw is a large share of the line (about 75%); then you can draw the rest when you need it after the guideline wait.

Home Equity Programs

Choose the draw model and capacity that fit your project—then apply online or talk with us.

Fastest online path

Lightning Equity Hybrid HELOC

Fast, 100% online HELOC. Full line funded at closing—repay and redraw during the draw period.

Draw model: 100% of the line at closing; repay and redraw during the draw period
Best for: Homeowners who want speed, a full disbursement, and online apply
Speed / capacity: Often funding in as few as ~5 business days on typical primary paths under $400K

Key benefits:

  • Soft-pull rate check to explore options
  • Often no in-person appraisal under $400K
  • No borrower prepayment fee
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Flex Equity HELOC

Higher-capacity HELOC for more scenarios—guided with specialty underwriting, not the Lightning online path.

Draw model: Not forced to take 100% at closing; typical start ~75% of the line, then additional draws later
Best for: Larger lines, more complex scenarios, or when you need specialty underwriting
Speed / capacity: Higher capacity paths (up to program max by lien/scenario); timeline varies

Key benefits:

  • Fixed and variable options; 1st and 2nd lien variants
  • More room on capacity and scenario flexibility
  • Loan officer–guided path—start with Talk with us

Estimate Your Equity

How Much Could I Borrow?

1

Property Information

Start typing your address and select from suggestions

$

Enter your current mortgage balance

2

Loan Options

Select the maximum CLTV you're interested in (varies by loan scenario)

Your Calculation

Home Value:$800,000
Remaining Mortgage:$550,000.00
80% of Home Value (CLTV):$640,000
Minus Mortgage:-$550,000.00
Available Equity:$90,000
Check Your Rate Now

Prequalification won't affect your credit score

With Lightning Equity Hybrid HELOC, you can typically borrow up to 75% to 85% of your home's value (CLTV varies by loan scenario) minus what you owe on your mortgage.

Qualification Requirements:

  • Credit score minimum varies (typically 600-760 depending on loan scenario; 640 minimum for variable rate)
  • Debt-to-income ratio: 50% for 1 unit properties, 45% for 2-4 unit properties
  • Combined Loan-to-Value (CLTV) up to 75%-85% depending on scenario
  • 90 days ownership seasoning required; 60 months since bankruptcy/foreclosure

Clear the path to qualification

Trusted partners can help with loan readiness and student-loan payments so you can move toward a stronger mortgage picture.

Third-party partner services — not PRMG underwriting. They do not guarantee approval or score improvement.

CredEvolv
Turn “not yet” into loan-ready

CredEvolv matches you to a loan-readiness path—HUD-certified nonprofit credit counseling, nonprofit debt management, or a self-paced DIY option—then works the plan until you’re ready to re-approach a mortgage. Request a connection and your loan officer will make the introduction.

Three paths under one roof

Nonprofit credit counseling

One-on-one with a HUD-certified, NFCC-member counselor: full credit review, a personalized plan, and monthly check-ins—typically a few months to goal.

Nonprofit debt management

When high balances or DTI is the blocker, a nonprofit program negotiates with creditors and consolidates into one structured payment—not debt settlement or credit repair.

CredEvolvIQ (DIY)

A self-guided credit-building subscription with score monitoring and a personalized roadmap—if you prefer to move at your own pace.

  • Nonprofit counseling and debt help—not for-profit credit repair
  • You’re matched to the path that fits; progress can be shared back with your loan officer
  • Available in all 50 states; programs are typically paid by you, not the lender

Read more on CredEvolv’s solutions

LoanSense
Lower student loan payments, unlock more home

LoanSense builds a personalized student-loan plan—repayment options, forgiveness paperwork, and private-loan refinance shopping—so lower monthly payments can improve your debt-to-income ratio and how much home you may qualify for.

How LoanSense helps

Federal repayment & forgiveness

A personalized plan for income-driven repayment and forgiveness pathways, with expert help on the forms so you don’t go it alone.

Private loan refinance options

Shop refinance options for private loans through LoanSense’s lender partners—your advisor helps keep federal forgiveness eligibility in mind when it applies.

Faster paperwork for underwriting

Filing support and document tracking so your lower payment can be shared with your loan officer—often in about three weeks instead of months of DIY.

  • Free preliminary plan to estimate payment reduction and home-buying room
  • Covers federal and private student loans—with refinance guidance that protects forgiveness when it matters
  • Concierge options include advisor Q&A and e-filing help for mortgage qualification
Explore LoanSense

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Read more on LoanSense

Common Uses

Home equity can fund projects and paydowns—match the draw model to when you need the cash.

Renovations

Kitchen, roof, or ADU work—Lightning if you need funds now; Flex if draws spread over time after closing.

Debt consolidation

Combine higher-interest balances into a HELOC payment when equity and credit support it.

Major expenses

Education, medical, or life events—choose full funding up front or a large initial draw with room left.

How Home Equity Works

1

Estimate your equity

Use the calculator to see a ballpark of available equity after your mortgage balance.

2

Choose Lightning or Flex

Pick full funding + redraw (Lightning) or a large initial draw with remaining capacity later (Flex).

3

Apply online or talk with us

Lightning: apply on the secure PRMG portal. Flex or unsure: talk with a loan officer using the contact form—we will guide the next step.

Apply Now
4

Close and fund

Complete closing, receive funds per your product’s draw rules, and use redraws during the draw period when available.

Key facts about home equity

Home Equity FAQ

What is the difference between Lightning and Flex?

Lightning funds 100% of the approved line at closing; you can repay and redraw during the draw period. Flex does not require taking 100% at closing—a typical starting draw is a large share of the line (about 75%), then you can draw the rest later after the guideline wait. Flex is specialty underwriting, not the Lightning online apply path.

Should I use a HELOC or a cash-out refinance?

A cash-out refinance replaces your first mortgage with a larger loan. A HELOC is a separate line against equity and can fit shorter-term or staged funding needs. Compare both—start with Talk with us or see our Refinance page.

How does redraw work on Lightning?

After the full line is funded at closing, payments free up available credit. During the draw period you can request additional draws on that available balance (subject to product rules and any valuation checks).

When is Flex a better fit?

When you need higher capacity, more complex scenarios, or specialty underwriting—and you are okay with a large initial draw (often ~75% of the line) rather than Lightning’s full disbursement. Flex is not “tiny day-one draws only.”

Does checking Lightning options hurt my credit?

Lightning lets you explore options with a soft pull that does not impact your credit the way a hard inquiry does. A hard pull typically comes later in underwriting if you proceed.

How fast can Lightning fund, and do I need an appraisal?

Many primary Lightning paths fund in as few as about five business days. Loans under $400K often use automated valuation rather than an in-person appraisal—your scenario determines the final path.

Ready to unlock your equity?

Apply online for Lightning Equity, or talk with us if Flex or a guided conversation is a better fit.

Apply Now

Get In Touch

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Kyle Kiss

Mortgage Advisor

Kyle Kiss

I help homeowners compare Lightning and Flex HELOCs—honest draw rules, clear next steps, and a path that fits your project.

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