1
Borrow against your equity
Your line is based on your home's value minus what you owe on your mortgage, up to a limit.
Savant Lending · HELOC
Pay off the card at a home equity rate.
A home equity line of credit (HELOC) borrows against the equity you already have — at a much lower rate than most credit cards. Your first mortgage, and its rate, stay exactly where they are.
Put in your balance and rates. The calculator shows what the same payoff costs on the card and on a HELOC.
Google reviewsKeep your first mortgageGeorgia homeowners
Credit card vs. HELOC
You keep in interest
$10,834
$181/mo less
over 5 years
Credit card · 22%
$690/mo
$16,428 interest
HELOC · 8.25%
$510/mo
$5,594 interest
Illustrative. Both columns assume the same fixed monthly payment pays the balance off in 5 years and that rates don't change. HELOC rates are variable and can rise. [HELOC rate connects to live pricing.] Closing costs and fees not included.
How a HELOC works
A credit line, backed by your home.
2
Draw what you need
Pay off the card in one draw, or pull from the line as you go — for a renovation or a down payment.
3
Pay interest on what you use
You only pay interest on the amount you've drawn, not the full line.
How much can you borrow?
Your line is your equity, up to a limit.
Savant Lending lends up to 85% of your home's value, minus what you owe on your mortgage.
Estimated line of credit
$102,500
- 85% of $450,000
- $382,500
- Minus your mortgage
- − $280,000
Enough to pay off a $25,000 card balance.
Get my exact amountWhat Georgia homeowners use it for.
Pay off high-rate debt
Move credit card and personal loan balances to one lower-rate payment.
Renovate
Fund a kitchen, an addition or a new roof, and draw as each phase is due.
Down payment on an investment
Use the equity in your home toward the next property.
A reserve you don't pay for until you use it
Open the line and leave it at zero until you need it.
HELOC or cash-out refinance?
Keep a low first-mortgage rate. Borrow on top of it.
A cash-out refinance replaces your whole mortgage at today's rate. A HELOC leaves your first mortgage alone and only charges interest on what you draw.
| Feature | HELOC | Cash-out refinance |
|---|---|---|
| Your first mortgage | Stays the same | Replaced at today's rate |
| Rate | Variable | Usually fixed |
| Interest charged on | Only what you draw | The full new loan |
| Closing costs | [Typically lower — confirm] | Full refinance closing costs |
| Best when | Your current rate is low | Today's rate beats your current rate |
Not sure which fits? A Savant loan officer runs both and shows you the numbers side by side.
Know before you borrow
A HELOC is secured by your home. Its rate is variable, so your payment can go up. Moving card debt to a HELOC only saves money if the card stays paid off — and missing payments puts your home at risk. Your loan officer walks through the payment at a higher rate before you sign.
HELOC questions.
No. A HELOC is a separate line in second position. Your first mortgage, its rate and its payment stay the same.
HELOC rates are variable and move with an index, usually the prime rate, plus a margin based on your credit and equity. Your loan officer shows how the payment changes if the rate rises. [Confirm index and margin terms.]
[Confirm draw period and repayment period, e.g. a 10-year draw followed by a 20-year repayment.]
[Confirm closing costs, appraisal requirements and any annual fee.]
Sometimes — generally only when the money is used to buy, build or substantially improve the home that secures it. Ask a tax professional about your situation.
[Confirm whether Savant Lending offers HELOCs on non-owner-occupied properties.]
See your HELOC rate.
Tell us about your home and what you owe. A Savant loan officer comes back with your line amount and rate. [Confirm: soft or hard credit pull at this step.]