Leverage Your Home’s Equity Without Changing Your Mortgage

Meet Luminate Bank’s Stand-Alone Home Equity Line of Credit


You’ve worked hard to build equity in your home. Now, it’s time to let your home work for you. 


With Luminate Bank’s Stand-Alone Home Equity Line of Credit (HELOC), you can borrow what you need, when you need it, without changing your existing mortgage. Use your home equity to take on projects, manage debt, or plan your next big move.


What Is a Stand-Alone HELOC?


A Stand-Alone HELOC is a flexible financing option that lets you tap into your home’s equity without refinancing your current mortgage. Unlike a traditional HELOC that’s usually tied to your primary mortgage, a Stand-Alone HELOC is independent, secured only by the equity in your home.


That means you can keep your existing mortgage as-is while gaining access to funds you can use over time. During the draw period, you can borrow, repay, and borrow again as needed, giving you ongoing access to your home’s value when opportunities or unexpected expenses arise.


Flexible Funding, Tailored to You 


Luminate Bank’s Stand-Alone HELOC


Key Features: 

  • Interest-only during the draw period, then transition to amortization (principal + interest)
  • Line amounts from $25,000 - $500,000 for primary residences 
  • Line amounts up to $250,000 for second homes


Additional Program Highlights: 

  • Available for first- or second-lien position
  • A HELOC with a first-lien position replaces your existing mortgage with a new, single loan. A “second lien” places the HELOC in a subordinate position to your “first” mortgage.
  • Borrowers must meet FNMA/ FHLMC credit and income standards to qualify.
  • Not available for borrowers residing in Texas or New York. 


How You Can Benefit From a Stand-Alone HELOC


A Stand-Alone HELOC gives you financial flexibility that fits your lifestyle and goals. Here are a few ways you can make it work for you:


1. Fund Home Improvements

Thinking about updating your kitchen, finishing the basement, or adding outdoor living space? Use your HELOC to fund projects that boost your home’s comfort and value.


2. Consolidate High-Interest Debt

If you’re juggling multiple high-interest credit cards or personal loans, leverage your HELOC to consolidate your balances into one payment, potentially lowering your overall interest costs.


3. Invest in Your Business or Personal Goals

As a business owner or entrepreneur, you can use your HELOC as a flexible line of credit to fund new ventures, purchase equipment, or cover short-term expenses without dipping into your savings.


Closing Thoughts


Luminate Bank’s Stand-Alone HELOC gives you the power to use your home’s equity your way. Whether you’re planning a home renovation, consolidating debt, or funding a new opportunity, this flexible line of credit helps you stay ready for whatever comes next.


Looking to learn more? Connect with a Luminate Bank loan officer and discover how a Stand-Alone HELOC can help you make the most of your home equity today.


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