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Fixed Rate HELOCs from Truss Financial Group 

Find fixed-rate HELOC financing options from Truss Financial Group, a United States mortgage lender and broker. Compare how the fixed interest rate will apply to the amount you plan to borrow on your home equity and see what it will mean for payments.

Whether you’re reviewing a HELOC fixed rate option against a variable line or simply want to understand your options, we can help you see how it might apply to your needs.

Fixed Rate HELOC

Latest bank statement loan update

Updated September 2026
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Reviewed by Jason Nichols

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What is a Fixed Rate HELOC? 

A fixed rate HELOC is a home equity line of credit that uses a fixed interest rate on the balance of the loan for the length of the program. As a result, interest charges on that balance are predictable for the term of the loan.

The loan program will have a draw period, which is the time when you can borrow funds against the line of credit. During the draw period, you can borrow against the credit line, make payments on what you borrow and then continue to borrow against the line until the end of the draw period. At that point, the repayment period begins; you can no longer borrow against the line and will begin paying down the principal with interest.

A HELOC differs from a standard closed-end home equity loan. You cannot re-borrow funds from a closed-end loan. Instead, you receive a lump sum of cash and make monthly payments on the principal plus interest charges until the loan is paid off. 

 

 Who This Option Suits 

Homeowners planning improvements: A borrower who is reviewing their financing options for a specific home improvement and wants to understand their options with a fixed interest rate on a defined budget.

Borrowers considering debt consolidation: A homeowner who is looking to consolidate debts and wants to review their payment options and borrowing needs.

Borrowers with complex finances: Self-employed individuals and qualifying investors in qualifying properties who meet income and property guidelines.

Benefits of a Fixed Rate HELOC

Predictable monthly payments

With a fixed rate, the interest charges on the amount you borrow will remain the same for the length of the loan.

Protection against interest rate increases

By locking in the interest rate on your HELOC balance, you protect against rate increases that would affect the payments on a variable-rate line

Budget-friendly large purchases

Predictable payments make it easier to plan and budget for larger expenses like home improvements or education.

Flexible borrowing

During the draw period of your HELOC, you can borrow what you need and pay it back with interest charges applied only to the amount you borrow and repay.

Fixed Rate HELOC Features 

Credit line 

A revolving line of credit in which the amount you can borrow is based on your equity and credit, and the actual amount is approved during the underwriting process.  

Draw period 

The length of time during which you can draw against your line of credit. This will be included in the terms of your loan. 

Repayment period

After the draw period ends, you begin to make payments on the principal and interest on your HELOC. During the repayment period, you can no longer borrow any additional money. 

Combined loan-to-value 

Your CLTV will determine how much equity you can borrow against, with a maximum amount of up to the approved CLTV percentage.

Fees and closing costs 

Closing costs, including origination fees and any other fees associated with your HELOC, will vary by program. Ask your loan officer for a closing cost worksheet. 

Automatic payments 

Set up automatic payments to help you stay on schedule with this HELOC. 

How to Qualify for a Fixed Rate HELOC

Your credit profile, income, obligations, property and equity will determine your qualification for a fixed-rate HELOC, and each will be considered as part of the application process.

Fixed Rate HELOC-1
Credit score

A minimum score of between 640 and 680 is required, and credit scores will be reviewed as part of the overall application. 

Combined loan-to-value

CLTV will be reviewed and may be up to 80% to 85%, based on occupancy, documentation, and credit score. 

Credit line

Your approved credit line depends on your available home equity, credit profile, and qualification requirements. Minimums and maximums vary by program.

Income and documentation

Requirements for documentation will vary by program.

Obligations

Your existing obligations and monthly payments will be considered as part of the application process. 

Property

Requirements for property type and documentation, including appraisal and insurance, will vary by program. 

How to Apply for a Fixed Rate HELOC

1
Request a profile review 

Share basic information about you and your home with us through our contact page to determine what programs you may qualify for. 

2
Gather your documents 

Prepare your pay stubs or tax returns, bank statements, mortgage statements and homeowners insurance for documentation review, as requirements may vary by program.

3
Review your loan options

With the help of a loan officer, review the rates, fees, draw and repayment options and your estimated monthly payments to determine which products meet your needs.

4
Submit for underwriting and closing 

After choosing the right product for your needs, we will review your application, order an appraisal if required and help you through the closing process. 

Reviews from TFG borrowers

stars

Quick process & great rates

Truss Financial Group did a great job handling our refi process. Gathering documents was easy and fast, which led to a quick decision. Marcus kept us updated and if challenged he found ...

Truss Financial Group did a great job handling our refi process. Gathering documents was easy and fast, which led to a quick decision. Marcus kept us updated and if challenged he found ways to manage things. We got a great rate and are using them again for our investment property.

Tyrone S.

stars

Seamless refinancing process

Needed to refinance an inherited rental property out of state. We were concerned about proving income and revenue and Marshall was incredibly helpful through every stage. He made this a...

Needed to refinance an inherited rental property out of state. We were concerned about proving income and revenue and Marshall was incredibly helpful through every stage. He made this a seamless process and we were funded in 30 days. They made this a very low stress process.

Ed B.

stars

Reliable investment property lender

Great service! I have several loans with Truss for my investment properties. Trust me, they will take care of you!

Great service! I have several loans with Truss for my investment properties. Trust me, they will take care of you!

Lisa R.

Cherry

Robert

stars

Excellent service for self-employed

Excellent financial services for self employed individuals. Abrahim was great to work with.

Excellent financial services for self employed individuals. Abrahim was great to work with.

Rob G.

stars

Bank statement refinance made easy

I did a refinance using bank statements. As a self employed individual, our W2 doesn't fully reflect our take in the business. The entire process was right around 30 days and was as pai...

I did a refinance using bank statements. As a self employed individual, our W2 doesn't fully reflect our take in the business. The entire process was right around 30 days and was as painless as any large transaction can be.

Reggie O.

stars

Fast no-doc loan for unique situation

Marshall was wonderful to work with and helped me immensely. I was able to get a no doc loan fast and easy. I had a unique situation and Marshall knew exactly how to handle my file.

Marshall was wonderful to work with and helped me immensely. I was able to get a no doc loan fast and easy. I had a unique situation and Marshall knew exactly how to handle my file.

Christopher W.

stars

Perfect solution for retiree financing

I am retired and do not have regular monthly income so I no longer qualify for traditional loan products. I am also tech illiterate. Delania took time to help me navigate the process in...

I am retired and do not have regular monthly income so I no longer qualify for traditional loan products. I am also tech illiterate. Delania took time to help me navigate the process in a way that best fit my needs.

Sylvia L.

Johnny

stars

HELOC closed in under 15 days

Marshall was kind, patient, polite and professional with me. We got a HELOC loan and in less than 15 days they were able to do the closing! It was a great experience!

Marshall was kind, patient, polite and professional with me. We got a HELOC loan and in less than 15 days they were able to do the closing! It was a great experience!

Marislea R.

stars

Best loan officer in 37 years of real estate

Marshall was absolutely THE BEST mortgage loan officer I've ever dealt with and I have been a Real Estate Broker for 37 years! He is knowledgeable, professional, and prompt in communica...

Marshall was absolutely THE BEST mortgage loan officer I've ever dealt with and I have been a Real Estate Broker for 37 years! He is knowledgeable, professional, and prompt in communication.

Shelia S.

stars

HELOC approved when others said no

All the other lenders turned me down but Caesar was able to get me the HELOC I needed and saved me. It was fast and is already finished.

All the other lenders turned me down but Caesar was able to get me the HELOC I needed and saved me. It was fast and is already finished.

Ronny T.

stars

Informative HELOC process

I worked with Reza & Delania & they were very informative regarding my HELOC and the process was easy!

I worked with Reza & Delania & they were very informative regarding my HELOC and the process was easy!

Daniel R.

stars

Zero conditions on approval

Working with Marshall and Betty was incredibly easy. They prequalified my loan so well that I had zero conditions on my approval, just needed insurance.

Working with Marshall and Betty was incredibly easy. They prequalified my loan so well that I had zero conditions on my approval, just needed insurance.

Austin H.

Kevin

stars

Quick preapproval with best options

Very professional and easy to work with. Marshall got me preapproved quickly for my purchase and was helpful in finding the best options and rates.

Very professional and easy to work with. Marshall got me preapproved quickly for my purchase and was helpful in finding the best options and rates.

C. C D.

stars

Completely straightforward process

Marshall was amazing to work with - responsive, on top of all the details and super efficient. He made the whole process completely straightforward.

Marshall was amazing to work with - responsive, on top of all the details and super efficient. He made the whole process completely straightforward.

Nina D.

stars

Easy first-time home purchase

Heather made my first time home purchase an exciting and easy process. I am looking forward to using her in the future and so should you!

Heather made my first time home purchase an exciting and easy process. I am looking forward to using her in the future and so should you!

Brianna R.

stars

I was extremely impressed by the rapid…

I was extremely impressed by the rapid response from your team. I was guided and timely informed of each step of the process. Sincerely

I was extremely impressed by the rapid response from your team. I was guided and timely informed of each step of the process. Sincerely

Dones Godwins

Brad

stars

Delania Got Us Our Loan

Delania was able to provide the amount of money we required in a reasonable amount of time with reasonable broker fees and interest rate.
Also, they were able to h...

Delania was able to provide the amount of money we required in a reasonable amount of time with reasonable broker fees and interest rate.
Also, they were able to handle my lien and I obtained the funds with perfect timing for my purposes

Beverley H

stars

The over all experience was good

The over all experience was good. Caesar would always respond in a timely manner, was patient explain anything I didn't understand. I enjoyed working with him very professional. <...

The over all experience was good. Caesar would always respond in a timely manner, was patient explain anything I didn't understand. I enjoyed working with him very professional.
The video sent from management was also helpful. It kept my posted, and explained what to expect.

GTI

stars

Truss Financial provided Excellent Service.

Truss Financial was great to work with. They provided up to date information on my refinance and were able to close earlier than expected. I would definitely recommend Truss Financial.

Truss Financial was great to work with. They provided up to date information on my refinance and were able to close earlier than expected. I would definitely recommend Truss Financial.

Irving Castro

Fixed Rate HELOC FAQs

 

What is the lowest FICO score allowed on a fixed rate HELOC?

The minimum score is between 640 and 680. Credit scores will be reviewed as part of the application process along with income, credit history and equity. 

Is a fixed rate HELOC the same as a home equity loan?

No. A home equity line of credit (HELOC) allows you to borrow and re-borrow funds up to your approved line of credit, while a home equity loan is a lump sum with a set interest rate that you repay in monthly installments for a set term.

Can I convert an existing HELOC balance to a fixed rate?

In some cases, yes. You may be able to borrow a portion of your HELOC balance at a fixed rate, depending on the program and your current HELOC terms. Ask your loan officer to review your current HELOC and the options that may be available to you.

Is a fixed-rate HELOC a good idea?

It depends on your needs and financial situation. A fixed-rate HELOC can give you predictable payments and may be a good option if you want to keep your HELOC open for a number of years. Compare your options carefully to find the HELOC that meets your needs.

Are there any HELOCs with fixed rates?

Yes, although the terms and conditions of a HELOC can vary greatly between lenders. 

Is a fixed rate HELOC cheaper than a variable rate HELOC?

Not necessarily. The interest rate for a HELOC can fluctuate and increase or decrease based on the prime rate. Ask about the rates for both types of HELOCs to compare your options. 

What happens after 10 years on a HELOC?

Most HELOCs give you the ability to borrow funds for up to 10 years, though the specific length is at the discretion of the lender. At the end of the draw period, most lenders will no longer allow you to borrow. This is when the repayment period begins. Most lenders will allow you to make payments during this time, but the principal is usually required as well as interest. This means you will likely have to pay a higher monthly amount. 

What is the cheapest way to borrow against home equity?

Every borrower has a unique financial situation, so there isn’t a one-size-fits-all option. You should avoid basing your decision solely on interest rates. Consider other factors that will affect the total amount you’ll have to pay, such as the interest rate, how long you plan to keep your balance, and fees and closing costs.

Can I pay off a HELOC early?

Generally, yes. Many HELOCs give you the flexibility to pay your balance early. Since you only pay interest on the principal you still owe, early repayments decrease the amount of interest that you’ll have to pay. Review your agreement before paying your balance early. 

How much will I pay for $50,000 at a 9% interest rate on a HELOC?

Actual costs may vary according to the terms of your loan. With a fixed 9% interest rate, interest-only payments on a $50,000 loan amount to $4,500 per year or $375 per month. The monthly payments required for the repayment portion of the loan will be greater because the loan will need to be repaid. You should contact the TFG loan officer for an estimate based on your loan program, the costs involved, and your proposed repayment plan.

Other Programs at Truss Financial Group Worth Considering

  • No tax return HELOC: Designed for self-employed individuals who want to avoid using tax returns as a source of information and go with other documents instead.

  • No appraisal HELOC: For those who want to skip the appraisal process (while still having credit, equity, and property checked).

  • Closed-end second mortgage: This is a second mortgage that has a lump sum of money that is disbursed to you, not a line of credit that you can tap into repeatedly, and it’s secured by your home, behind your first mortgage.

  • Investor HELOC: This is a DSCR HELOC for qualifying real estate investors who wish to borrow against the equity of their investment properties, not personal residences.

 

We leverage simplified loan processes and innovative financing solutions, turning mortgage obstacles into possibilities for our clients.

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Headquarters:

  • 25541 Commercentre Dr. Ste 260
    Lake Forest, CA 92630

Irvine Office:

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  • Company NMLS: 2006915

Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 north Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550.

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov

This website is provided solely for informational purposes. The accuracy of the information is not guaranteed, either expressly or impliedly. The content herein should not be construed as an offer to extend credit or as a commitment to provide a loan. Approval of loans is contingent upon the completion of underwriting procedures, and not all applicants may qualify for approval. Certain restrictions may apply.

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