Access Your Equity
A HELOC lets Florida homeowners borrow against their home’s equity for credit-card debt consolidation, renovations, or other expenses without replacing their existing first mortgage. Quest Mortgage Services helps compare options, including bank-statement qualification for self-employed homeowners. Your home secures the debt, so missed payments can put it at risk.
Get a Free Mortgage ConsultationSoft pull credit report — no impact on your score
640 minimum credit score
Condos welcomed
Fast approval process
Flexible draw and repayment terms
Use funds for renovations, debt consolidation, or investments
Apply online or call Frank directly — we start with a soft-pull credit check.
We assess your home's equity and determine your available credit line.
Receive approval in minutes with competitive rates and flexible terms.
Access your funds when you need them with a convenient draw period.
Subject to credit approval; terms and eligibility vary by lender and program
Eligibility
Minimum 640 credit score
Combined loan-to-value (CLTV) typically up to 85%–90%
Verifiable income or asset-based qualification
Property must be a primary, second home, or condo (investment case-by-case)
Located in Florida
Existing first mortgage in good standing
The Process
Apply with no impact to your credit score.
We confirm available equity and your credit line.
Most HELOCs receive a decision the same day.
Sign and access your line — typically within 2–3 weeks.
Subject to credit approval; terms and eligibility vary by lender and program
Straight answers from Frank Herrera, NMLS #227613 — serving Miami and all of Florida.
Yes. A HELOC lets Florida homeowners — from Miami-Dade, Broward and Palm Beach to anywhere in the state — use home equity to pay off high-interest credit cards with one line of credit, often at a lower rate than card APRs.
We start with a soft-pull credit check, so seeing what you qualify for won't affect your score. Keep in mind the line is secured by your home, so it works best when you have a plan to keep the cards paid down.
Quest Mortgage Services does. Condos are welcomed under our HELOC program — with no condo association approval required.
That matters in Miami, where many buildings make association-dependent financing slow or impossible. You apply on your own, and we review your unit's equity directly.
Yes. Self-employed borrowers can qualify with bank statements instead of tax returns, or with traditional tax returns — whichever shows your income best.
Business owners, 1099 contractors and freelancers often write off enough that tax returns understate what they earn. Bank-statement qualification looks at your actual deposits instead.
A HELOC sits behind your existing first mortgage as a second lien, so you keep your current loan — and its rate — untouched. You only borrow what you need, when you need it.
If you locked a low rate in recent years, this is usually the main reason to choose a HELOC over a cash-out refinance. Here's how the three options compare:
| HELOC | Home equity loan | Cash-out refinance | |
|---|---|---|---|
| Your current mortgage | Stays in place | Stays in place | Replaced with a new loan |
| How you get the money | Line of credit — draw as needed | One lump sum | One lump sum at closing |
| Rate type | Usually variable | Usually fixed | Fixed or adjustable |
| You pay interest on | Only what you draw | The full amount | The entire new loan balance |
| Best fit when | You want flexibility and to keep your low first-mortgage rate | You need a set amount with a fixed payment | Today's rates beat your current rate |
All loans subject to credit approval, property eligibility and underwriting guidelines. A HELOC is secured by your home. Programs and terms may change without notice.
FAQ
Typically up to 85%–90% of your home's value minus your existing first mortgage balance. Final amount depends on credit, income, and property type.
Most HELOCs have a variable rate tied to the Prime rate. Some lenders offer fixed-rate draw options that let you lock in a portion of the balance.
Yes — condos are welcomed under our HELOC program, with no condo association approval required.
Yes. Florida homeowners can use a HELOC to pay off high-interest credit cards with one line of credit, often at a lower rate. The line is secured by your home, so have a plan to keep the cards paid down.
Yes. Self-employed borrowers can qualify with bank statements instead of tax returns, or with traditional tax returns.
Yes. A HELOC is a second lien that sits behind your existing first mortgage, so your current loan and rate stay in place.
Most HELOCs close in 2–3 weeks from application to funding, much faster than a typical first mortgage.
No — we start with a soft-pull credit check, which has no impact on your score. A hard pull occurs only when you move forward with the loan.
Get In Touch
Have a question about buying, refinancing, or which program fits your situation? Reach out for a free consultation — Frank responds personally.
Phone
(305) 299-6995Office
3105 NW 107th Ave, Suite 400-H5, Miami, FL 33172