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Lompoc homeowners have built real equity over the years. A HELoan lets you borrow against that equity as a lump sum at a fixed rate.
Fixed rates mean predictable payments. That matters when you're planning a renovation or consolidating debt with a set payoff goal.
620
Min Credit Score
80%
Max Combined LTV
Fixed
Rate Type
2–4 Weeks
Typical Close Time
Lump Sum at Closing
Loan Structure
Home Equity Loans (HELoans) in Lompoc
Most lenders want at least 20% equity remaining after the loan. That means your combined loan balances can't exceed 80% of your home's value.
Credit score requirements typically start at 620. Stronger scores — 700 and above — get meaningfully better rates. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect home equity loans (heloans) eligibility, lender expectations, and local market factors before comparing payment options in Lompoc.
Lompoc homeowners have built real equity over the years. A HELoan lets you borrow against that equity as a lump sum at a fixed rate.
Fixed rates mean predictable payments. That matters when you're planning a renovation or consolidating debt with a set payoff goal.
Most lenders want at least 20% equity remaining after the loan. That means your combined loan balances can't exceed 80% of your home's value.
HELoans are second mortgages. Not every lender offers them, and terms vary sharply between banks, credit unions, and wholesale lenders.
At SRK CAPITAL, we shop HELoans across 200+ wholesale lenders. Lompoc borrowers get more options than walking into a single bank.
HELoans work best when you need one large amount for one specific purpose. Debt consolidation, a roof replacement, or a remodel with a fixed budget.
Don't use a HELoan for ongoing expenses. A HELOC — a line of credit — fits better when your spending is spread out over time.
A HELOC gives you a revolving credit line. A HELoan gives you cash upfront at a rate that never changes. Different tools for different goals.
Cash-out refinancing replaces your first mortgage entirely. If your first loan has a low rate, a HELoan preserves it. That's often the smarter move as of April 2026.
Lompoc sits in Santa Barbara County, a market where property values have historically supported strong equity positions for long-term owners.
Vandenberg Space Force Base drives steady local employment. That stability helps borrowers document income and qualify for second mortgages.
Most lenders cap combined debt at 80% of your home's appraised value. Subtract your current mortgage balance to find your maximum HELoan amount.
No. It's a separate second mortgage. Your first loan stays exactly as-is.
Most HELoans close in 2–4 weeks. An appraisal is usually required, which adds time.
Yes, and it's one of the most common uses. The fixed rate and set payoff date make it predictable.
It can be, if funds are used to buy, build, or substantially improve your home. Consult a tax advisor for your specific situation.
Most lenders start at 620. You'll see better rates at 700 and above. Rates vary by borrower profile and market conditions.