Getting ready for holiday spending, home upgrades, debt consolidation, or year-end bills?
A Home Equity Line of Credit (HELOC) through MKG Enterprises Corp (TPO) lets qualified homeowners tap available equity as a flexible line of credit—without replacing their first mortgage.
Why homeowners like HELOCs
- Keep your current low mortgage rate on the 1st lien
- Borrow only what you need, when you need it
- Typically lower costs than a full refinance
- Interest is generally charged only on what you use
Example: Approved for a $40,000 HELOC and you only draw $12,000 for repairs—you generally pay interest on $12,000, while keeping $28,000 available for later use.
Program highlights (Standalone vs. Piggyback)
Standalone HELOC (access cash with a separate line)
Popular for debt consolidation, home improvements, and life events.
- Up to 85% LTV (subject to qualifications)
- Primary & second homes
- 20-year term
- Line amounts up to $350,000
- Minimum 660 FICO
- Minimum credit line: $25,000
- Initial draw requirement may apply (often 75% of the line)
- Valuation:
- Up to $250,000 line: approved AVM may be acceptable
- Over $250,000 line: full appraisal required
Piggyback HELOC (open a line with a new first mortgage)
A strategy for qualified conventional borrowers who want to split the first/second—often to reduce or avoid mortgage insurance or keep the first within conforming limits.
- Primary & second home: purchase, rate/term, and cash-out refi (conventional eligibility applies)
- Line amounts up to $350,000
- Minimum 680 FICO
- Minimum line: $10,000
- Initial draw requirement may apply (often 75% of the line)
- Valuation: AVM/appraisal waiver may be accepted up to $250,000 with an approved AVM; over $250,000 requires full appraisal
- Not available in Texas
Check your options / Apply 24/7
Shop home equity options online
Easy & secure online application
Disclosure: Not a commitment to lend. All loans are subject to credit approval, income/asset verification, title review, and acceptable property valuation (AVM/appraisal). Program guidelines, rates, and terms are subject to change without notice. Consult your tax advisor regarding potential tax implications. MKG Enterprises Corp — Equal Housing Lender. NMLS #1370394.
