Mortgage lenders in the U.S. are increasingly making home equity lending accessible, with digital application processes and options for interest-only payments during draw periods.
A review by Keynova reveals that nearly all lenders have embraced digital applications, with half using soft credit pulls, improving the user experience significantly.
As home equity levels rise, HELOC originations surged 26.5% in Q2 2024, reflecting increased demand from homeowners wanting to leverage their property value post-pandemic.
Lenders are introducing features like online rate locking and accelerated closing options, with some promising home equity funding in as little as one week.
[
Collection
]
[
|
...
]