Question 1

How much can I borrow with a Los Altos Hills HELOC?

Accepted Answer

Most lenders approve 80-85% combined loan-to-value. On a $3M home with $1M owed, expect $1.4M-$1.55M maximum. Individual lender caps may apply.

Question 2

What's the difference between a HELOC and a home equity loan?

Accepted Answer

HELOCs are revolving credit lines with variable rates. Equity loans are lump-sum loans with fixed rates. You pay interest only on drawn HELOC funds.

Question 3

Can I get a HELOC if I'm self-employed in tech?

Accepted Answer

Yes, but you'll need two years of tax returns and strong cash reserves. Stock compensation counts as income with proper documentation.

Question 4

How do future rate cuts affect my HELOC payment?

Accepted Answer

HELOC rates typically drop when the Fed cuts rates. Your monthly payment adjusts accordingly. Fixed equity loans don't benefit from rate decreases.

Question 5

What happens during the HELOC repayment period?

Accepted Answer

After the 10-year draw period ends, you can't borrow more. The outstanding balance converts to a 20-year amortizing loan. Payments increase significantly.

Los Altos Hills HELOC: Tap Your Home Equity Without Selling