Home / HELOC / A three-month HELOC can be an expensive way to borrow.
Updated September 2026
HELOC guide
A three-month HELOC can be an expensive way to borrow.
Interest is not the only cost. A HELOC can have an appraisal, title, recording, an annual fee, and a fee if you close the line too fast. If you need cash for ninety days, add those costs and compare them to not doing the project yet. A short borrow on a line built to be open for years is how people feel tricked. We would rather show the fee stack in the text. None of this is a rate quote. The note controls the number.
Sending a file is not an approval and not a credit pull. We text the same business day. We do not call. If we can structure it, we name the door. If we cannot, we say so.
The screen
| Cost | When it hurts |
|---|---|
| Interest | The whole time the balance is out |
| Closing fees | Even if you repay quickly |
| Early closure | If the program has one |
| Annual fee | If the line stays open |
What we fund
- People comparing a HELOC to a contractor's financing
- A bridge of a few months until a sale
- Anyone who asked for the line just in case
What we still need. Short list.
- The first mortgage balance, rate, and whether it can stay.
- A value we can support, and the cash you actually want.
- The property state. HELOC is only GA, FL, TN, AL, NC, and SC.
- Income path: full doc, bank statements, or rent on a DSCR HELOC.
Questions
Are HELOCs free to open?
No. Low closing cost is not zero. Ask for the fee list.
Can fees be wrapped into the line?
Sometimes. They still reduce the cash you can use.
Is a contractor's 0% offer cheaper?
Only if the price of the job was not raised to hide the interest. Compare the total, not the banner.
Related
These are the guidelines we screen. They are not a promise that your file hits the maximum. Credit-event seasoning, occupancy, and property condition still have to be confirmed. Not a commitment to lend. We text. We do not call.