Standard, fixed-rate and piggyback HELOCs to tap your equity or buy with a second lien
A home equity line of credit (HELOC) is a revolving line of credit secured by your home. You borrow against your available equity, draw funds as you need them during the draw period, and pay interest only on what you use, while your existing first mortgage stays in place. Your maximum line is based on your home's value, your current mortgage balance, your credit and the program's combined loan-to-value (CLTV) limit. TAG Lending Group offers standard HELOCs, fixed-rate HELOCs and piggyback HELOCs for home purchases in the states where it is licensed.
One product, three strategies. Pick the structure that matches your goal, whether that's flexible cash, predictable payments or buying a home with a second lien.
A revolving line you draw from as needed, usually with a variable rate. Pay interest only on what you use.
Access equity with a fixed rate on the amount you draw, so payments on that balance are easy to plan around.
A HELOC taken as a second lien at the same time as your first mortgage when you buy, keeping the first loan at or below 80% of the home's value.
A piggyback loan splits your purchase financing into two liens that close together. The first mortgage stays at or below 80% loan-to-value, and a HELOC or fixed-rate second covers part of the remaining price. Your down payment covers the rest.
Avoid mortgage insurance. Keeping the first mortgage at or below 80% LTV removes the PMI requirement on that loan.
Bring less cash to closing than a single loan with the same total financing would require.
Stay under conforming limits. Splitting a larger purchase can keep the first mortgage conforming instead of moving to a jumbo loan.
The same core requirements as a traditional mortgage, including a stable two-year work history.
A credit score of 680 or higher on most programs, and reserves on some.
Down payment and maximum combined financing are set by the program. Ask a loan officer which structures fit your purchase.
Every HELOC has a draw period and a repayment period. Knowing when one ends and the other begins is the most important part of planning your payments.
Borrow up to your credit limit as needed, repay, and borrow again. Many HELOCs allow interest-only payments during this phase, and the draw period commonly lasts several years. Your exact terms are in your HELOC disclosures.
New draws stop and the balance is repaid with principal and interest, so the monthly payment is often higher than during the draw period. Plan for this step-up before it arrives.
Most HELOCs carry a variable rate tied to an index, usually the Prime Rate, plus a margin. The rate and payment can rise or fall over time.
A Fixed-Rate HELOC sets a fixed rate on the amount you draw, so payments on that balance are predictable.
Available equity and combined loan-to-value (CLTV) across all liens on the property.
Credit score (TAG programs from 640+), debt-to-income ratio and ability to repay.
Occupancy: primary residence, second home or investment property, each with its own limits.
All three turn equity into cash. The right one depends on how you'll use the money and whether you want to keep your current first mortgage.
Swipe to compare →
| Feature | HELOC | Home Equity Loan | Cash-Out Refinance |
|---|---|---|---|
| How you get funds | Revolving line; draw as needed | One lump sum at closing | One lump sum at closing |
| First mortgage | Stays in place | Stays in place | Replaced by a new, larger loan |
| Rate structure | Usually variable; fixed-rate options available | Usually fixed | Fixed or adjustable |
| Interest charged on | Only the amount drawn | Full loan amount | Full new loan amount |
| Best for | Ongoing or uncertain costs: renovations in stages, reserves, flexible access | One known expense with a set payoff schedule | When a new first-mortgage rate or term also makes sense |
Take your home's value, apply the program's CLTV limit, and subtract every loan secured by the property. Use the estimator above as a starting point.
Government ID, income documentation (pay stubs, W-2s or tax returns, or alternative documentation where the program allows), your current mortgage statement, homeowners insurance, and HOA details if applicable.
At application you'll receive HELOC-specific disclosures and the CFPB's home equity line of credit booklet explaining how rates, payments, fees and the draw and repayment periods work.
The lender confirms the property's value by appraisal or an approved valuation method, verifies credit and income, and sets your final credit limit.
For a HELOC on your principal residence that isn't part of a home purchase, federal law gives you three business days after closing to cancel, and funds become available after that period. Piggyback HELOCs used to buy a home fund at closing.
Access the line during the draw period and track your balance so you're ready when the repayment period begins.
TAG Lending Group is licensed as a mortgage lender in Florida, Georgia, Michigan, New Mexico, Ohio, South Carolina, Tennessee and Texas, and as a mortgage broker only in Connecticut, New Jersey and Pennsylvania. HELOC program availability, CLTV limits and terms vary by state.
A home equity line of credit (HELOC) is a revolving line of credit secured by your home. You draw funds as needed during the draw period, repay, and borrow again, paying interest only on the amount you use, while your existing first mortgage stays in place.
Multiply your home's value by the program's combined loan-to-value (CLTV) limit, then subtract all existing mortgage balances. TAG HELOC programs allow up to 90% CLTV on eligible primary residences, with lines generally from $25,000 to $500,000. Texas homestead HELOCs are capped at 80% CLTV.
TAG HELOC programs are available for qualified borrowers with credit scores from 640. Most piggyback HELOC programs used to buy a home require 680 or higher.
A fixed-rate HELOC lets you access home equity with a fixed rate on the amount you draw, so payments on that balance are predictable. It can be an alternative to a cash-out refinance when you want to keep a favorable rate on your first mortgage.
Yes. A piggyback loan is a second mortgage, often a HELOC, that closes at the same time as your first mortgage when you buy a home. The first mortgage stays at or below 80% of the home's value, the second lien covers part of the remaining price, and your down payment covers the rest.
It can. Private mortgage insurance is typically required when a conventional first mortgage is above 80% loan-to-value. Keeping the first mortgage at or below 80% with a piggyback second removes the PMI requirement on the first loan.
Only when the funds are used to buy, build or substantially improve the home that secures the HELOC, and only if you itemize. The deduction is subject to the $750,000 combined mortgage debt limit, which the One Big Beautiful Bill Act made permanent. Interest on funds used for other purposes, such as paying off credit cards, isn't deductible. Consult a tax advisor.
Yes, TAG HELOC programs are available for qualified second homes and investment properties. CLTV limits and requirements are typically stricter than for a primary residence.
Yes, in limited situations allowed under federal rules and your HELOC agreement, such as a significant decline in your home's value or a material change in your financial circumstances. Review your agreement for the specific conditions.
For a HELOC on your principal residence that isn't used to buy the home, federal law gives you three business days after closing to cancel without penalty. This right of rescission doesn't apply to a piggyback HELOC used to purchase the home.
TAG Lending Group is licensed as a mortgage lender in Florida, Georgia, Michigan, New Mexico, Ohio, South Carolina, Tennessee and Texas, and as a mortgage broker only in Connecticut, New Jersey and Pennsylvania. Program availability and terms vary by state.
A HELOC keeps your current first mortgage in place and lets you draw only what you need, which can make sense when your existing rate is favorable or costs will come in stages. A cash-out refinance replaces your first mortgage with a new, larger loan and may fit better if a new rate or term also benefits you.
Connect with a loan officer to review your home value, current mortgage and goals, and find the right standard, fixed-rate or piggyback HELOC for your scenario.
Not a commitment to lend. All loans are subject to credit, income, property and underwriting approval, and not all applicants will qualify. Programs, CLTV limits, credit score requirements, line amounts and terms vary by program, occupancy and state and may change without notice. Most HELOCs have variable rates, so the rate and payment can increase. Property insurance is required, and flood insurance may be required. Consult a tax advisor regarding the deductibility of interest. Piggyback financing: down payment, maximum combined loan-to-value and mortgage insurance requirements vary by program; terms of the first mortgage and second lien are disclosed separately. HELOC programs are not available in all states. Texas home equity loans and lines of credit are subject to Article XVI, Section 50(a)(6) and 50(t) of the Texas Constitution. TAG Lending Group is a mortgage broker only, not a mortgage lender or correspondent mortgage lender, in CT, NJ and PA. TAG Lending Group, LLC | NMLS #2329372 | NMLS Consumer Access | Equal Housing Opportunity.
Standard, fixed-rate and piggyback HELOCs to tap your equity or buy with a second lien
A home equity line of credit (HELOC) is a revolving line of credit secured by your home. You borrow against your available equity, draw funds as you need them during the draw period, and pay interest only on what you use, while your existing first mortgage stays in place. Your maximum line is based on your home's value, your current mortgage balance, your credit and the program's combined loan-to-value (CLTV) limit. TAG Lending Group offers standard HELOCs, fixed-rate HELOCs and piggyback HELOCs for home purchases in the states where it is licensed.
One product, three strategies. Pick the structure that matches your goal, whether that's flexible cash, predictable payments or buying a home with a second lien.
A revolving line you draw from as needed, usually with a variable rate. Pay interest only on what you use.
Access equity with a fixed rate on the amount you draw, so payments on that balance are easy to plan around.
A HELOC taken as a second lien at the same time as your first mortgage when you buy, keeping the first loan at or below 80% of the home's value.
A piggyback loan splits your purchase financing into two liens that close together. The first mortgage stays at or below 80% loan-to-value, and a HELOC or fixed-rate second covers part of the remaining price. Your down payment covers the rest.
Avoid mortgage insurance. Keeping the first mortgage at or below 80% LTV removes the PMI requirement on that loan.
Bring less cash to closing than a single loan with the same total financing would require.
Stay under conforming limits. Splitting a larger purchase can keep the first mortgage conforming instead of moving to a jumbo loan.
The same core requirements as a traditional mortgage, including a stable two-year work history.
A credit score of 680 or higher on most programs, and reserves on some.
Down payment and maximum combined financing are set by the program. Ask a loan officer which structures fit your purchase.
Every HELOC has a draw period and a repayment period. Knowing when one ends and the other begins is the most important part of planning your payments.
Borrow up to your credit limit as needed, repay, and borrow again. Many HELOCs allow interest-only payments during this phase, and the draw period commonly lasts several years. Your exact terms are in your HELOC disclosures.
New draws stop and the balance is repaid with principal and interest, so the monthly payment is often higher than during the draw period. Plan for this step-up before it arrives.
Most HELOCs carry a variable rate tied to an index, usually the Prime Rate, plus a margin. The rate and payment can rise or fall over time.
A Fixed-Rate HELOC sets a fixed rate on the amount you draw, so payments on that balance are predictable.
Available equity and combined loan-to-value (CLTV) across all liens on the property.
Credit score (TAG programs from 640+), debt-to-income ratio and ability to repay.
Occupancy: primary residence, second home or investment property, each with its own limits.
All three turn equity into cash. The right one depends on how you'll use the money and whether you want to keep your current first mortgage.
Swipe to compare →
| Feature | HELOC | Home Equity Loan | Cash-Out Refinance |
|---|---|---|---|
| How you get funds | Revolving line; draw as needed | One lump sum at closing | One lump sum at closing |
| First mortgage | Stays in place | Stays in place | Replaced by a new, larger loan |
| Rate structure | Usually variable; fixed-rate options available | Usually fixed | Fixed or adjustable |
| Interest charged on | Only the amount drawn | Full loan amount | Full new loan amount |
| Best for | Ongoing or uncertain costs: renovations in stages, reserves, flexible access | One known expense with a set payoff schedule | When a new first-mortgage rate or term also makes sense |
Take your home's value, apply the program's CLTV limit, and subtract every loan secured by the property. Use the estimator above as a starting point.
Government ID, income documentation (pay stubs, W-2s or tax returns, or alternative documentation where the program allows), your current mortgage statement, homeowners insurance, and HOA details if applicable.
At application you'll receive HELOC-specific disclosures and the CFPB's home equity line of credit booklet explaining how rates, payments, fees and the draw and repayment periods work.
The lender confirms the property's value by appraisal or an approved valuation method, verifies credit and income, and sets your final credit limit.
For a HELOC on your principal residence that isn't part of a home purchase, federal law gives you three business days after closing to cancel, and funds become available after that period. Piggyback HELOCs used to buy a home fund at closing.
Access the line during the draw period and track your balance so you're ready when the repayment period begins.
TAG Lending Group is licensed as a mortgage lender in Florida, Georgia, Michigan, New Mexico, Ohio, South Carolina, Tennessee and Texas, and as a mortgage broker only in Connecticut, New Jersey and Pennsylvania. HELOC program availability, CLTV limits and terms vary by state.
A home equity line of credit (HELOC) is a revolving line of credit secured by your home. You draw funds as needed during the draw period, repay, and borrow again, paying interest only on the amount you use, while your existing first mortgage stays in place.
Multiply your home's value by the program's combined loan-to-value (CLTV) limit, then subtract all existing mortgage balances. TAG HELOC programs allow up to 90% CLTV on eligible primary residences, with lines generally from $25,000 to $500,000. Texas homestead HELOCs are capped at 80% CLTV.
TAG HELOC programs are available for qualified borrowers with credit scores from 640. Most piggyback HELOC programs used to buy a home require 680 or higher.
A fixed-rate HELOC lets you access home equity with a fixed rate on the amount you draw, so payments on that balance are predictable. It can be an alternative to a cash-out refinance when you want to keep a favorable rate on your first mortgage.
Yes. A piggyback loan is a second mortgage, often a HELOC, that closes at the same time as your first mortgage when you buy a home. The first mortgage stays at or below 80% of the home's value, the second lien covers part of the remaining price, and your down payment covers the rest.
It can. Private mortgage insurance is typically required when a conventional first mortgage is above 80% loan-to-value. Keeping the first mortgage at or below 80% with a piggyback second removes the PMI requirement on the first loan.
Only when the funds are used to buy, build or substantially improve the home that secures the HELOC, and only if you itemize. The deduction is subject to the $750,000 combined mortgage debt limit, which the One Big Beautiful Bill Act made permanent. Interest on funds used for other purposes, such as paying off credit cards, isn't deductible. Consult a tax advisor.
Yes, TAG HELOC programs are available for qualified second homes and investment properties. CLTV limits and requirements are typically stricter than for a primary residence.
Yes, in limited situations allowed under federal rules and your HELOC agreement, such as a significant decline in your home's value or a material change in your financial circumstances. Review your agreement for the specific conditions.
For a HELOC on your principal residence that isn't used to buy the home, federal law gives you three business days after closing to cancel without penalty. This right of rescission doesn't apply to a piggyback HELOC used to purchase the home.
TAG Lending Group is licensed as a mortgage lender in Florida, Georgia, Michigan, New Mexico, Ohio, South Carolina, Tennessee and Texas, and as a mortgage broker only in Connecticut, New Jersey and Pennsylvania. Program availability and terms vary by state.
A HELOC keeps your current first mortgage in place and lets you draw only what you need, which can make sense when your existing rate is favorable or costs will come in stages. A cash-out refinance replaces your first mortgage with a new, larger loan and may fit better if a new rate or term also benefits you.
Connect with a loan officer to review your home value, current mortgage and goals, and find the right standard, fixed-rate or piggyback HELOC for your scenario.
Not a commitment to lend. All loans are subject to credit, income, property and underwriting approval, and not all applicants will qualify. Programs, CLTV limits, credit score requirements, line amounts and terms vary by program, occupancy and state and may change without notice. Most HELOCs have variable rates, so the rate and payment can increase. Property insurance is required, and flood insurance may be required. Consult a tax advisor regarding the deductibility of interest. Piggyback financing: down payment, maximum combined loan-to-value and mortgage insurance requirements vary by program; terms of the first mortgage and second lien are disclosed separately. HELOC programs are not available in all states. Texas home equity loans and lines of credit are subject to Article XVI, Section 50(a)(6) and 50(t) of the Texas Constitution. TAG Lending Group is a mortgage broker only, not a mortgage lender or correspondent mortgage lender, in CT, NJ and PA. TAG Lending Group, LLC | NMLS #2329372 | NMLS Consumer Access | Equal Housing Opportunity.