A business-purpose home equity line of credit lets eligible business owners use the equity in their home for working capital, growth or consolidating business debt, without refinancing their existing first mortgage.
Checking your options uses a soft credit inquiry, which does not affect your credit score. A hard inquiry happens only if you choose to move forward.
Tell us about your business and your property. The application takes minutes.
See what you may prequalify for with a soft credit inquiry, then choose an amount and term.
Verify your identity and income online, then sign your closing documents with an online notary where available.
Funds are sent by ACH. Many approved borrowers are funded in as few as 5 business days.
Your line amount depends on your home equity, credit and verified income. Larger lines have stricter requirements.
Payments are fully amortizing, with no interest-only period.
Your full line is drawn at closing. As you pay it down, you can redraw during the draw period (minimum $500 per draw).
For an owner-occupied home, depending on credit, lien position and amount. Lower limits apply to second homes and investment properties.
Keep your current first mortgage. Up to a 3rd lien on a primary home, up to a 2nd lien on a second home or investment property.
Any fees are added to your line amount instead of paid at closing.
Rates, fees and terms depend on your credit profile, property and state, and are disclosed to you before you accept an offer. Lines over $400,000 have different requirements, including a higher minimum credit score, a lower maximum combined loan-to-value and a maximum 2nd-lien position.
The program is currently available for properties in these states and Washington, D.C.:
State availability can change, and some product features vary by state.
It is a line of credit secured by your home that you use for business purposes, such as working capital, buying equipment or inventory, consolidating business debt or funding growth.
No. The line is a separate lien, so your existing first mortgage and its rate stay in place.
No. Prequalification uses a soft credit inquiry, which does not affect your credit score. A hard credit inquiry happens only if you choose to continue with an offer.
Many approved borrowers are funded in as few as 5 business days. For a primary home, this includes a 3-business-day right-to-cancel period. Larger lines that need a full appraisal may take longer.
Yes. During the draw period (3 to 5 years, depending on your term), you can redraw as you repay, up to your credit limit, in amounts of $500 or more.
Most offers use an automated home valuation. Lines over $400,000 require a full appraisal.
Yes. Primary homes, second homes and investment properties are all eligible in every state where the program is available. Credit, loan-to-value and lien limits for second homes and investment properties are stricter than for a primary home.
In some states, yes, if you own at least 25% of the LLC. Ask us whether this applies in your state.
Apply online in minutes. A soft credit inquiry shows your options with no effect on your credit score.
Start My ApplicationImportant information. This page is for informational purposes only and is not a commitment to lend, an offer of credit or a guarantee of approval. All lines of credit are subject to application, credit approval, verification of income and property value, underwriting and final approval. Not all applicants will qualify. Programs, amounts, terms and availability may change without notice and vary by state.
This program is for business-purpose credit only and is not intended for personal, family or household purposes. A home equity line of credit is secured by your home. If you fail to make payments, you could lose your home. Line amounts, rates, fees and terms depend on your credit profile, property, lien position and state and are disclosed in full before you accept an offer.
Alternative Funding Group may refer applicants to a third-party lending partner and may be compensated for that referral. Alternative Funding Group is not the lender for this program and does not make credit decisions. Consult your own tax and financial advisors.