Need flexible access to your home’s equity? A Home Equity Line of Credit (HELOC) gives you the power to borrow what you need, when you need it. Kristy Gannon at Ownity Mortgage helps California homeowners unlock their equity with personalized guidance and competitive HELOC options—backed by over 20 years of experience.
A Home Equity Line of Credit, or HELOC, is a revolving line of credit that lets you borrow against the equity you’ve built in your home. Unlike a traditional loan, a HELOC works more like a credit card—you can draw funds as needed, up to a set limit, and only pay interest on what you use. This makes it ideal for homeowners looking for flexibility when funding renovations, consolidating debt, or covering unexpected expenses. Kristy Gannon helps clients across California navigate HELOCs with ease and confidence.
A HELOC is a great option for homeowners who have built up equity and want access to funds without refinancing their first mortgage. Whether you’re planning home improvements, managing tuition or medical bills, or simply want financial flexibility, a Home Equity Line of Credit gives you control. Kristy Gannon works with clients throughout California to structure HELOCs that support their goals while maintaining long-term financial health.
When approved for a HELOC, you receive a line of credit based on the available equity in your home. During the draw period, which typically lasts 5 to 10 years, you can borrow as needed and make interest-only payments. After that, the repayment period begins, during which you pay off the balance over time. Kristy Gannon will explain each stage of the process and help you understand how your payments will adjust over time.
HELOCs can come with variable or fixed interest rate options, depending on the lender. Some programs allow interest-only payments during the draw period, while others may offer hybrid repayment models. Your credit score, income, and total available equity will impact the credit limit and terms available. Kristy Gannon will help you compare multiple HELOC options to find the most suitable structure based on your current needs and future plans.
A HELOC offers flexible borrowing and interest-only payment options that can help with everything from home improvements to debt consolidation. You retain control of when and how you borrow, and you only pay interest on the amount you actually use. For many California homeowners, a Home Equity Line of Credit provides peace of mind and an accessible financial safety net. With Kristy’s expertise, you’ll understand exactly how to leverage your equity without compromising your long-term goals.
If you have significant home equity and need access to flexible funds, a HELOC may be the perfect solution. It’s ideal for those who want to avoid refinancing their current mortgage but still need capital for renovations, emergencies, or major purchases. Kristy Gannon will help you determine whether a Home Equity Line of Credit fits your situation and show you how to use it wisely.
With more than 20 years in the mortgage industry, Kristy Gannon understands the nuances of home equity financing. She helps homeowners across California compare lenders, avoid common pitfalls, and select HELOC options that offer flexibility, stability, and value. At Ownity Mortgage, Kristy provides trusted advice, quick turnarounds, and transparent communication to ensure your line of credit works for you—not against you.
Whether you’re renovating, paying off debt, or planning for the future, Kristy Gannon makes it easy to access your home’s equity with expert support.
Your credit limit depends on how much equity you have in your home, your credit score, and your income. Kristy will help calculate your borrowing potential and walk you through available lender limits.
A Home Equity Line of Credit (HELOC) is a revolving credit line that allows homeowners to borrow against their home equity. Unlike a lump-sum loan, a HELOC provides ongoing access to funds up to a set credit limit, similar to a credit card. Borrowers can withdraw money as needed and repay it over time.
A HELOC is a revolving credit line with a variable interest rate, allowing borrowers to access funds as needed. A home equity loan, on the other hand, provides a lump sum of money with a fixed interest rate and structured repayment schedule.
HELOC funds can be used for home renovations, debt consolidation, education expenses, medical bills, emergencies, business investments, or major purchases. Borrowers have full control over how they use the funds.
Lenders typically allow homeowners to borrow 75% to 90% of their home’s equity, minus the remaining mortgage balance. The exact limit depends on credit score, home value, and lender policies.
Most lenders require a credit score of 680 or higher, but some may approve borrowers with lower scores if they have strong home equity and a low debt-to-income ratio.
Yes, HELOCs may have closing costs ranging from 2% to 5% of the credit line. Some lenders offer no-closing-cost HELOCs, but they may have higher interest rates.
Most HELOCs have variable interest rates, meaning payments may fluctuate based on market conditions. Some lenders offer fixed-rate conversion options, allowing borrowers to lock in a rate for a portion of their balance.
Borrowers can withdraw funds using checks, debit cards, online transfers, or direct withdrawals from the lender. Most HELOCs allow multiple transactions during the draw period.
Yes! Borrowers can pay off a HELOC early without penalties in most cases. However, some lenders may charge an early closure fee if the HELOC is closed within a certain timeframe.
A HELOC is secured by your home, meaning failure to make payments could result in foreclosure. Additionally, variable interest rates can increase over time, leading to higher monthly payments.
Yes! Homeowners can qualify for a HELOC even if they have an existing mortgage, as long as they meet the lender’s equity and credit requirements.
If you don’t qualify for a HELOC, consider:
The Turnkey Foundation Inc. DBA Ownity Mortgage | NMLS# 236669 | NMLS# 2592455| DRE# 01845041 | All rights reserved.
7606 Meany Ave. Suite 103 Bakersfield, California 93308
DRE #01771805
NMLS #245918
Arbor NMLS #236669
Arbor DRE #01845041
