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Combined Mortgage and Home Equity Financing Options

Get access to home equity and enjoy greater payment flexibility

Pair your first Wells Fargo Home Mortgage with a home equity line of credit
Apply for a home equity line of credit. Get Started

Features

With a mortgage plus a home equity line of credit you can: 

  • Pair a first mortgage with a home equity line of credit for financing based on your needs. 
  • Choose from a variety of fixed-rate and adjustable-rate mortgage options. 
  • Convert all or a portion of your variable-rate home equity line of credit balance to a fixed-rate advance. You can also ask to convert a fixed-rate advance to your line of credit balance.
  • Access available funds from your line of credit for a draw period of 10 years and 1 month.

Benefits

  • Payment flexibility. Combining a mortgage and home equity line of credit may provide greater payment flexibility. 
  • Potential tax benefits. Unlike personal loans or credit cards, the interest on your home equity financing may be tax-deductible.
  • Interest rate options. Avoid monthly payment changes by converting your home equity line of credit balance from a variable rate to a fixed-rate advance for the term that you select. As rates change, switch part or all of your balance to a fixed-rate advance.

Considerations

  • At the end of the fixed-rate advance term, any unpaid advance balance will revert back to your line of credit and be charged the variable rate in effect at that time. 
  • The interest rate on a home equity line of credit is variable, so your monthly payment may change according to the market rate unless you convert to a fixed-rate advance.