What a 5-Day HELOC is
It's a line of credit in second position behind your existing mortgage. Your first mortgage, and its rate, stay exactly as they are.
The speed comes from what's removed: on a typical 30 to 45 day bank timeline, most of the waiting is for an appraiser to visit and for two years of tax returns to be reviewed. Here an automated valuation replaces the visit and no tax returns are requested.
How 5 days is possible
- Application
- Typical bank HELOCBranch visit or a lengthy portal
- 5-Day HELOCDigital, about 20 minutes
- Appraisal
- Typical bank HELOCScheduled in-person visit, often the longest wait
- 5-Day HELOCNone up to $1M; automated valuation
- Income file
- Typical bank HELOC2 years of tax returns, W-2s, pay stubs
- 5-Day HELOCNo tax returns
- Credit check to see options
- Typical bank HELOCHard pull up front
- 5-Day HELOCNo hard pull to see options
- Funding
- Typical bank HELOCCommonly 30–45 days
- 5-Day HELOCAs little as 5 business days
Five days assumes a clean file: prompt uploads, clear title, and a property the automated valuation can price.
In plain numbers
- Funding speed
- As little as 5 business days (12-day legal minimum in Texas)
- Appraisal
- No appraisal appointment up to $1,000,000; automated valuation
- Tax returns
- Not required
- Line amounts
- $50,000 – $5,000,000
- Max combined LTV
- 90% (80% in Texas by state law)
- Minimum credit score
- 620 — a hard floor for the HELOC itself
- Transaction type
- Refinance only, on a home you already own; your first mortgage stays
- Title seasoning
- None — qualify even if just added to title
- Property types
- 1–4 units
- LLC-titled property
- OK with a 700+ personal FICO
- Household income
- Several people's income can be added, even if not on the loan or title
- Hard credit pull to see options
- Not required
Above $1,000,000 the valuation is confirmed on a call.
The Texas exception
Texas sets two rules in its constitution: a 12-day minimum between application and closing on home-equity lending, and an 80% cap on combined loan-to-value. In Texas this is a 12-day HELOC at up to 80%.
Who it's for
- Rate-protectors: a low first-mortgage rate you don't want to refinance away
- People with a deadline
- Self-employed borrowers who don't want a tax-return review
- Anyone just added to title — by marriage, a family transfer, or an inheritance
- Debt consolidators carrying balances at 20% APR or more
What you'll need
- A government-issued ID
- Your current mortgage statement
- Proof of homeowners insurance
Underwriting may ask for more, depending on the file.
How the 5 days go
- 01
Day 1
The funnel or a call, a soft credit review, and matching to the right program.
- 02
Days 1–2
Upload your three documents. The automated valuation runs.
- 03
Days 2–4
Underwriting.
- 04
Day 5
Closing and funding.
If a HELOC isn't the fit
- Stated-income HELOC: no income verification at 680+ credit on lines of $150,000 or more
- P&L-only loan: qualify on one profit-and-loss statement
- Home equity agreement: credit from the 500s and no monthly payments
- Cash-out refinance: one new loan instead of a second lien
Below 620, the HELOC itself isn't available; a home equity agreement or a cash-out is where we'd look.
Good to know.
Is 5 days really possible?+
Yes, for a clean file. An automated valuation covers lines up to $1M and no tax returns are reviewed. In Texas the legal minimum is 12 days.
What's the catch?+
It needs a clean file, it's for a home you already own, and 620 is a hard credit floor. Texas adds its 12-day wait.
Is there an appraisal?+
No appraisal appointment up to $1,000,000. Above that, the valuation is confirmed on a call.
Does it touch my first mortgage?+
No. It's a second lien; the first mortgage and its rate are untouched.
How much can I get?+
$50,000 to $5,000,000, up to 90% combined loan-to-value (80% in Texas). Rule of thumb: value × 90% − what you owe. A $700,000 home with $400,000 owed gives about $230,000.
What documents do I need?+
A government ID, your mortgage statement, and proof of homeowners insurance to start.
I was just added to title. Do I qualify?+
Yes. There's no title seasoning requirement.
Will checking hurt my credit?+
No. Seeing your options uses a soft review only.