Choose your payment plan
Select from multiple payment plans at closing, based on what fits your goals.
EquitySelect is a flexible HELOC that lets eligible homeowners access their equity, choose from multiple payment plans, and qualify using a capped payment instead of a traditional HELOC payment.
A traditional HELOC and EquitySelect, priced side by side at the line size you'd actually qualify for.
A flexible home equity option designed for homeowners who want access, control, and a payment structure that feels easier to understand.
Select from multiple payment plans at closing, based on what fits your goals.
EquitySelect uses a capped monthly payment to qualify you, not the full traditional HELOC payment.
Access a revolving line of credit. Draw what you need, repay, and draw again.
Your selected payment structure is designed to avoid the traditional HELOC recast surprise.
You and your heirs will never personally owe more than the home’s value. Failure to fullfil the terms of the loan can result in foreclosure.
If the traditional HELOC payment makes qualifying harder or creates payment concern, EquitySelect gives you two clearer paths built around a lower qualifying cap and a lower starting payment.
The timeline is simple, guided, and designed to keep borrowers moving from first estimate to available funds.
Start with a quick EquitySelect estimate and choose your goal.
Connect with a loan officer and complete the application.
HighTechLending reviews documents and orders the appraisal.
Your loan is reviewed, verified, and cleared for closing, if approved.
If approved, funds may be available in as little as 2–4 weeks.
*Typical funding time frame only. Timing is not guaranteed and depends on borrower responsiveness, appraisal, underwriting, and program eligibility.
Traditional HELOCs qualify you on the full interest-only payment. EquitySelect uses the capped qualifying payment from the Minimum Monthly Payment Percentage Plan chosen at closing. That one difference can mean the difference between denied and approved — especially for borrowers on fixed retirement income.
EquitySelect requires a minimum initial draw equal to the greater of: $75,000, 50% of the credit line for 1st liens (80% for 2nd liens), or any existing mortgage being paid off. After the initial draw, the rest of your approved line is available to access as you need it during the draw period.
At closing, you choose a Minimum Monthly Payment Percentage Plan from 1% to 5%, calculated annually on the outstanding loan balance. The chosen plan stays with the loan for its life and cannot be changed later. Because minimum payments may not cover all accrued interest, unpaid interest is added to the balance, which can result in a balloon payment at the end of the term or upon payoff.
Because EquitySelect minimum monthly payments may not cover all accrued interest, any unpaid interest is added to the loan balance over time. The full remaining balance — known as the balloon payment — becomes due at the end of the 40-year term, when the loan is called due, or upon payoff (such as when the home is sold or refinanced), whichever occurs first.
Availability: Currently available in AZ, CA, CO, CT, FL, GA, HI, ID, IL, MI, NC, NJ, NV, OH, OR, SC, TN, UT, and VA. Not available in all states. We're actively expanding — if your state isn't listed and you'd like to be notified when it's available, contact us at (866) 243-5906.
No. You can pay down or pay off EquitySelect at any time without penalty. Because it's a revolving line of credit during the draw period, paying down your balance also restores availability — you can draw against it again.
A 1st-lien EquitySelect replaces any existing mortgage and sits in first position on the property. The draw period is 7 years and maximum line size is up to $4,000,000. A 2nd-lien EquitySelect sits behind your existing first mortgage; the draw period is 5 years and maximum line size is up to $1,000,000. Both share the same 40-year term, payment-plan flexibility, and non-recourse protection.
Figures shown are estimates only and do not constitute a commitment to lend. Subject to underwriting approval and program guidelines. HighTechLending, Inc. · NMLS #7147.
Corporate Headquarters
HighTechLending Inc is an Equal Housing Lender, NMLS ID #7147 (www.nmlsconsumeraccess.org).
2030 Main Street, Suite #500, Irvine, CA 92614.
