Loading
Loading
San Jose homeowners have built serious equity. Tech-driven appreciation has pushed values well above national norms.
A HELoan — a fixed-rate second mortgage — lets you pull that equity out as a lump sum. One draw, one rate, one payment.
620+
Min Credit Score
Up to 80%
Max CLTV
Fixed
Rate Type
3–5 Weeks
Est. Close Time
Lump Sum
Loan Structure
Home Equity Loans (HELoans) in San Jose
Most lenders want at least 20% equity remaining after the draw. That means your combined loan balances can't exceed 80% of your home's value.
Expect a minimum credit score around 620. Better scores get 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 San Jose.
San Jose homeowners have built serious equity. Tech-driven appreciation has pushed values well above national norms.
A HELoan — a fixed-rate second mortgage — lets you pull that equity out as a lump sum. One draw, one rate, one payment.
Most lenders want at least 20% equity remaining after the draw. That means your combined loan balances can't exceed 80% of your home's value.
Big banks offer HELoans, but their appetite for second mortgages varies. One bank that approved you last year may have tightened this year.
We shop across 200+ wholesale lenders. That means more options on combined loan-to-value limits and fewer surprises at closing.
San Jose borrowers often underestimate their equity. Get an appraisal before assuming how much you can draw.
HELoans close slower than HELOCs. Budget 3-5 weeks. Don't use one for an expense with a hard deadline next month.
A HELOC gives you a credit line you draw from over time. A HELoan gives you everything upfront at a locked rate.
If you know exactly what you need — a remodel, a tax bill, tuition — a HELoan is simpler. If your costs are unpredictable, a HELOC fits better.
Santa Clara County property taxes are based on assessed value, not market value. Your equity may be larger than your tax bill suggests.
Many San Jose homeowners have first mortgages well below current rates. A HELoan preserves that low first-mortgage rate — a cash-out refi would not.
Most lenders cap combined balances at 80% of your home's value. San Jose values are high, so eligible amounts can be substantial.
No. A HELoan is a separate second mortgage. Your first mortgage rate stays exactly as-is.
It may be if funds are used for home improvement. Talk to a CPA — tax rules on this are specific.
Plan on 3-5 weeks. California has a mandatory 3-day rescission period after signing.
Most lenders require at least 620. Scores above 700 get meaningfully better rates. Rates vary by borrower profile and market conditions.
If your current rate is low, a HELoan is usually smarter. A cash-out refi replaces your whole loan at today's rates.