Tap Your Home Equity with a HELOC or Specialty Loan

Flexible options for homeowners looking to unlock the value in their homes

Tap into your home’s equity with flexible HELOC and specialty loan options.

When it comes to tapping into your home’s value, flexibility matters. Whether you want to fund a renovation, consolidate debt, or secure funds for future opportunities, a Home Equity Line of Credit (HELOC) offers one of the smartest ways to access cash without disrupting your existing mortgage.

At Delaware Mortgage Loans, we offer a suite of HELOC and specialty loan products designed to give homeowners, investors, and self-employed borrowers more control over their finances — with flexible terms, competitive rates, and documentation options that fit real-world scenarios. Find out if you qualify today by calling 302-703-0727 or APPLY ONLINE.

What Is a HELOC?

A Home Equity Line of Credit (HELOC) allows you to borrow against the equity in your home as needed — much like a credit card backed by your property’s value. You can draw funds, repay, and re-borrow during the draw period, giving you ongoing access to low-interest credit.

Our HELOCs are designed with flexible draw periods and repayment options so you can choose the structure that fits your goals — whether you prefer a variable line, a fixed-rate option, or a traditional closed-end loan.

Traditional HELOC Loan Program Highlights

No initial draw required – access funds only when you need them
FICO as low as 640 – flexible qualification options
Loan amounts up to $750,000 (Bridge loans up to $1 million for 1st lien)
AVMs allowed up to $400,000 – no full appraisal required
Max CLTV up to 95% – use more of your equity
10-year draw / 20-year repay terms
Bank statement income allowed (1st & 2nd liens)
One-year tax return option for qualified borrowers
Standalone or simultaneous transactions – can be combined with a purchase or refinance

HELOC Program Options

We offer three distinct HELOC structures, each built to serve different financial goals and borrower preferences:

1. HELOC (Variable Rate)

Structure: 10-year interest-only phase; then fully amortized 20-year term
Minimum Draw: Must Cover Closing Costs with Draw at closing
Payment Type: Interest-only during draw period, then principal & interest afterward
Key Notes: True revolving credit line — borrow, repay, and reuse as needed. Adjustable rate (ARM).

2. FixLine HELOC

Structure: 3-year draw period; fully amortized over 15, 20, or 30 years
Minimum Draw: Greater of $25,000 or 75% of total line
Payment Type: Fixed principal & interest from the start
Key Notes: Combines the flexibility of a credit line with the stability of a fixed rate and fixed term.

3. HELOAN (Closed-End / Fixed Loan)

Structure: Fixed rate, fixed term, fixed payments
Minimum Loan: $25,000
Payment Type: Fully amortized principal & interest
Key Notes: Traditional home equity loan with predictable monthly payments and fixed rate stability.

Specialty Loan Products

Renovation Loans – Finance upgrades using future appraised value
Land Loans – Finance residentially zoned land
Fixed-Rate 2nd Mortgages – Secure ultra-competitive fixed rates
Investment Property Financing – 1st and 2nd lien options for investors
Bridge Loans – Short-term 1st lien loans up to $1 million

Ideal for Self-Employed & Non-Traditional Borrowers

Our programs are designed for self-employed and commission-based clients, with flexible underwriting options including:

Bank statement income qualification
One-year tax return review
Asset-based options for high net-worth borrowers

Get Started Today

Whether you’re looking to unlock equity, invest in property, or finance your next goal, our HELOC and specialty loan programs make it possible. Our team can help you compare structures, calculate borrowing power, and find the option that best fits your financial strategy. Call us at 302-703-0727 or APPLY ONLINE

Apply Now for Your HELOC or Specialty Loan

HELOC & Specialty Loan FAQ

What is a HELOC and how does it work?: A HELOC allows you to borrow against your home’s equity as needed. During the draw period, you can access funds and repay as needed. Afterward, the line converts to regular payments of principal and interest.
How is a HELOC different from a Home Equity Loan (HELOAN)?: A HELOC is revolving and flexible; a HELOAN provides a one-time lump sum with fixed payments.
What credit score do I need to qualify for a Home Equity Line of Credit?: FICO scores as low as 640 may qualify depending on income, equity, and overall financial profile.
How much can I borrow with a HELOC?: Up to $750,000 for HELOCs and $1 million for 1st lien bridge loans, with a max CLTV of 95%.
Can self-employed borrowers qualify for a HELOC?: Yes, we offer programs using bank statements or one-year tax returns for income verification.
What can I use a HELOC for?: Common uses include home improvements, debt consolidation, tuition, investments, and bridge financing.
What other specialty loan options are available?: Renovation loans, land loans, fixed-rate 2nd mortgages, investment property financing, and bridge loans.
How do I get started?: Apply online or schedule a consultation with our Delaware Mortgage Loans team today.

Related Resources

FAQ: Delaware HELOC & Specialty Loan Options

Q: What is a HELOC and how does it work?

A: A Home Equity Line of Credit (HELOC) allows you to borrow against the equity in your home as needed. During the draw period, you can take funds out, repay, and reuse them. Once the draw period ends, you begin repayment.