What credit score do you need for a HELOC?
On the line we place, 640 is the minimum for a home you live in. Second homes and investment properties need 680, and the highest loan amounts require 760 or above. Below 640 isn’t eligible.
These are the requirements for the home equity line we place. Other lenders set their own guidelines, and some are more flexible.
Your score is the first credit test. It decides whether you’re eligible and whether the highest loan amounts are open to you. It isn’t the only test, though: recent history matters too.
The tiers
- Below 640: not eligible.
- 640 and up: the standard minimum for a home you live in.
- 680 and up: required for second homes and investment properties, for owning through an LLC with a 700+ score, and for paying off credit cards at closing to help you qualify.
- 760 and up: required for the highest loan amounts.
If the home is owned through an LLC, the minimum is 700, and the property can’t be your primary residence.
A qualifying score can still be declined
The credit review also looks at what’s happened recently. Late payments, collections, or a recent bankruptcy or foreclosure can stop an application with a good score, and so can a burst of new credit applications.
Your score has to hold during the application
The first check is a soft pull that doesn’t affect your score. The hard pull comes later. If your score drops in between — a missed payment, a new account, a maxed-out card — your offers can change or disappear. Keep your credit quiet until you’ve funded.
A thin or recently built credit file can also prevent offers.
Think this applies to your property?
Send the details. Matt reviews them and replies himself, even when the answer is no.
Credit Score Requirements: questions
640 for most applications on a home you live in. Investment properties need 680, and the highest loan amounts require 760 or above.
No. 640 is the minimum on the line we place. If your score is close, the credit-history rules on this page tell you what moves it, and a soft check costs nothing.
680, or 700 if the rental is owned through an LLC.
These are the requirements for the home equity line we place. Other lenders set their own guidelines, and some are more flexible.
The other main requirements
Debt-to-Income Requirements
On the line we place, debt-to-income can be up to 50% of your gross monthly income. Over that, you’re not automatically …
Learn moreEligible Property Types
On the line we place, the home must be an eligible property type — single-family residence, townhome, planned unit devel…
Learn moreDeclined by an Online HELOC
Many declines are about timing or structure, not about you. A home bought, or an applicant added to title, in the last 9…
Learn moreFind out where you stand before you apply
Credit, income, property and title each have their own rule. Most declines trace back to one of them, and many can be fixed before you apply.