That have a great HELOC, you could potentially mark on the line out-of borrowing from the bank as required for solutions Home reputation for at least 2 years A job record Bank and you will investment account comments Information regarding almost every other properties you own Other documentation for a lifetime incidents (divorce proceedings, wedding, an such like.) What to anticipate You can also pay down brand new HELOC through the years and you may 100 % free up extra money for usage later on. See out of your financial what to anticipate when it comes to repayment timeline and just how much time you can preserve new HELOC unlock. dos. Home guarantee loan Eg a good HELOC, a house equity financing is dependant on the value of your household.