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Updated September 2026

HELOC guide

Save the draws and the invoices. The deduction is not automatic.

HELOC interest is a tax question only your adviser should answer. What we can say: the IRS cares what you spent the money on. Interest on money that improves the home is treated differently from interest on a vacation or a car. Keep the closing disclosure, each draw receipt, and the invoices. Do not ask the loan officer to classify the deduction in a text. If you refinance or pay the line off, keep the payoff too. This page is not tax advice.

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

Save the draws and the invoices. The deduction is not automatic.
KeepWhy
Note and disclosureRate, margin, and fees
Draw recordsWhen money left the line
InvoicesWhat the money bought
PayoffWhen the debt ended

What we fund

  • Owners who want the file clean for their CPA
  • A remodel with real invoices
  • People who mixed personal spending onto the same line

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

Can you tell me what is deductible?

No. That is a tax adviser. We can confirm what the loan documents say.

What if I used the line for both a roof and a car?

The uses get split. Your adviser needs the amounts. Mixed use is why the records matter.

Do you send a 1098?

The servicer does, if one is required. We are the broker, not always the servicer.

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.