How Long Does It Take to Get a Home Equity Line of Credit?

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 29, 2023

It typically takes 2 - 4 weeks from application to get a home equity line of credit, or HELOC.

It may take longer depending on the circumstances and complexity of the line of credit request.

An easy way to keep things moving is to get your paperwork done quickly; for example, appraising your home on your own.

How Long Do I Have to Pay Off a Home Equity Line of Credit?

How long it takes to pay off a home equity line of credit, or HELOC, depends on your interest paid, the size of your monthly payments, and the purchases you make with it.

A HELOC has both a draw phase and a repayment phase, which lasts 10-20 years.

How Long Does It Take to Get a Home Equity Line of Credit? FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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