Virginia HELOC rates revealed super savings await you

How to Qualify for a HELOC

Qualifying for a HELOC in Virginia involves meeting specific criteria, including having sufficient home equity, a good credit score, and a stable income. Typically, lenders require you to have at least 15% to 20% equity in your home³. Additionally, a credit score of 620 or higher is often needed, although some lenders may have more lenient requirements. It's also crucial to demonstrate your ability to repay the borrowed amount, which is why lenders will review your income and debt-to-income ratio.