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HELOC Requirements: How to Qualify in 2026

HELOC approval turns on credit score, equity, income and existing debt, and each lender sets its own limits. Some lenders publish theirs: Bank of America asks for a 660 credit score and at least 15% equity, U.S. Bank a 660 FICO, and Chase a 680 score with borrowing up to 80% of the home's value. Here is what they publish, what they do not, and what to ask.

What lenders publish

Bank of America

Credit score: 660+

Equity / limit: At least 15% equity; generally up to 85% of value minus what you owe

Rate assumptions: Sample rates assume excellent credit

U.S. Bank

Credit score: 660+

Equity / limit: Not published as a cap

Rate assumptions: Lowest rate assumes FICO 730+, 60% LTV, $50,000+ line, autopay

Chase

Credit score: 680+

Equity / limit: Up to 80% of home value minus the mortgage

Rate assumptions: Primary or secondary home; not available in Texas

Navy Federal

Credit score: Not published as a minimum

Equity / limit: Not published as a cap

Rate assumptions: As-low-as rates assume 750 FICO, primary residence, 70% max HLTV

Lender	Credit score	Equity / borrowing limit	Rate assumptions
Bank of America	660+	At least 15% equity; generally up to 85% of value minus what you owe	Sample rates assume excellent credit
U.S. Bank	660+	Not published as a cap	Lowest rate assumes FICO 730+, 60% LTV, $50,000+ line, autopay
Chase	680+	Up to 80% of home value minus the mortgage	Primary or secondary home; not available in Texas
Navy Federal	Not published as a minimum	Not published as a cap	As-low-as rates assume 750 FICO, primary residence, 70% max HLTV

Read 12 November 2026 from each lender's own HELOC page: bankofamerica.com/home-equity, usbank.com home equity line of credit, chase.com home equity line of credit, navyfederal.org home equity rates. Requirements change; the lender's page and your written disclosures are the authority.

Qualification Factors in Detail

Credit Score

The published floors above run from 660 (Bank of America, U.S. Bank) to 680 (Chase). Meeting the floor gets you considered, not the advertised rate: U.S. Bank's lowest rate assumes a FICO of 730 or higher and Navy Federal's as-low-as rates assume 750, so a score near the minimum usually means a higher margin over prime.

Ask the lender

What score does my quoted rate assume, and how much higher is the margin at my score?

Debt-to-Income Ratio (DTI)

DTI is your monthly debt payments divided by gross monthly income. No federal cap applies to HELOCs: the ability-to-repay rule in Regulation Z (12 CFR 1026.43) excludes lines of credit subject to section 1026.40, so the limit is each lender's own. Lenders differ on which payment they count for the new line (interest-only, or a payment at the full limit).

Ask the lender

What DTI limit do you use, and which HELOC payment do you count in it?

Equity and Combined Loan-to-Value (CLTV)

CLTV is your mortgage balance plus the new line, divided by the home's value. Bank of America generally lends up to 85% of the value minus what you owe (at least 15% equity); Chase up to 80%. On a $400,000 home with a $250,000 mortgage, 85% gives a line of up to $90,000 and 80% up to $70,000. Use the borrowing calculator to run your own numbers.

Ask the lender

What maximum CLTV do you allow on my property type, and how will you value the home?

Income and Employment

Lenders have to verify that you can make the payments, so they document income: pay stubs and W-2s for employees, tax returns and profit and loss statements for the self-employed, and award letters for pension or Social Security income.

Ask the lender

Which income sources do you accept, and how many years of history do you need?

Documents Lenders Commonly Ask For

Standard Documents

✓ Last two pay stubs
✓ W-2 forms for the last two years
✓ Last two months of bank statements
✓ Current mortgage statement
✓ Homeowner's insurance declaration page
✓ Government-issued photo ID
✓ Social Security number authorization

Self-Employed Borrowers

All standard documents plus:

✓ Last two years of personal and business tax returns
✓ Year-to-date profit and loss statement
✓ Last three months of business bank statements
✓ Business license or articles of incorporation
✓ CPA letter (some lenders)

From Application to Access

Application

Apply online, by phone or in branch. The lender pulls your credit and asks for income and mortgage documents. You receive the HELOC disclosures Regulation Z section 1026.40 requires, including the maximum rate the line can reach.

Valuation

The lender values the home, by a full appraisal or an automated or desktop valuation, depending on the lender and the line size. Figure, for example, says no in-person appraisal is needed for lines under $400,000.

Underwriting

An underwriter reviews credit, income, valuation and title, and may ask for more documents (conditions) before approval.

Closing

You sign the line agreement. Ask the lender up front how long its process usually takes for your property; large lenders do not publish a standard timeline.

Rescission and access

On a line secured by your principal dwelling you can cancel until midnight of the third business day after closing (12 CFR 1026.15). After that the funds become available by transfer, check or card, depending on the lender.

Common Denial Reasons and Fixes

✗

DTI too high

Pay down or pay off a car loan or card balances before reapplying, or apply for a smaller line so the counted payment is lower.

✗

Not enough equity

Ask for a smaller line that keeps you inside the lender's maximum CLTV, or wait until mortgage paydown or a higher valuation gives you more room.

✗

Credit score below the lender's floor

Check your reports for errors and dispute them, bring card balances down, and compare lenders: published floors differ (660 at Bank of America and U.S. Bank, 680 at Chase).

✗

Income could not be verified

Supply the missing documents or a letter of explanation for gaps; if you have just changed jobs, ask whether the lender will accept an offer letter and first pay stub.

✗

Low valuation

Ask for a reconsideration of value with recent comparable sales, or try a lender that values the home a different way.

Frequently Asked Questions

What credit score do I need for a HELOC?

It depends on the lender, and some publish their floor. Read 12 November 2026: Bank of America asks for a minimum credit score of 660, U.S. Bank says you need a FICO score of 660 or higher, and Chase says you may qualify with a score of 680 or higher. A higher score buys a lower rate: U.S. Bank's lowest advertised rate assumes a FICO of 730 or higher, and Navy Federal's as-low-as HELOC rates assume a 750 FICO.

Is there a maximum debt-to-income ratio for a HELOC?

No single federal cap applies. The Regulation Z ability-to-repay rule (12 CFR 1026.43) covers closed-end mortgages and expressly excludes home equity lines of credit subject to section 1026.40, so each lender sets its own DTI limit. U.S. Bank lists your debt-to-income ratio among the factors it reviews but does not publish a cut-off; ask the lender what ratio it uses and whether it counts the line at its full limit.

Can I get a HELOC if I am self-employed?

Yes, but expect heavier documentation: personal and business tax returns, a year-to-date profit and loss statement and business bank statements are the usual asks, because the lender has to verify income that does not come on a pay stub. Ask the lender how many years of returns it needs and how it averages variable income.

How long does the HELOC application process take?

Large lenders do not publish a standard timeline; it depends mostly on how the home is valued and how quickly you supply documents. Figure, for example, says no in-person appraisal is needed for lines under $400,000. One part is fixed by law: on a line secured by your principal dwelling you can cancel until midnight of the third business day after closing (12 CFR 1026.15), and funds are not released until that period ends.

Can I get a HELOC on a rental property?

Fewer lenders offer one, so check eligibility first. Chase's HELOC covers a primary or secondary home, not an investment property. Lenders that do lend on investment property generally price those lines above a primary-residence line and ask for more equity; get the terms in writing from each lender you consider.

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