Rising home values over the last few years have left many Americans sitting on hefty levels of equity, and a growing number of homeowners are now looking for ways to put that equity to work. Whether the goal is to consolidate high-rate credit card debt, cover a major expense or simply access a financial cushion, home equity lines of credit (HELOCs), in particular, are a good option right now thanks to the flexibility they offer. And with HELOC rates currently , these lines of credit are also one of the most affordable financing options available right now. 

But while HELOCs offer borrowers the benefit of both flexibility and low interest rates, getting approved and funded for this type of borrowing isn't always a fast process. The approval process for traditional HELOCs can drag on for weeks or even months, involving copious amounts of paperwork, in-person appraisals and bureaucratic delays. But technology has revolutionized home equity lending, creating opportunities for homeowners to access their equity in record time, transforming what was once a marathon into a sprint.

What are the HELOC options worth considering, though, if speed is your top priority this July? Well, there are a few different ways to fast-track your HELOC application without sacrificing too much in the process. 

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What are the fastest ways to get a HELOC this July? 

If you need to tap into your home equity quickly, these HELOC strategies could help you move from application to approval sooner:

Consider a no-doc or low-doc HELOC

One of the quickest ways to get approved for a HELOC is by applying for a no-documentation (or low-documentation) option. These HELOCs skip the full income verification process and minimize paperwork, which can dramatically cut down on underwriting time. And, they're especially helpful for self-employed borrowers or homeowners who want a faster, hassle-free experience. So, if you're financially stable and have significant equity in your home, a no-doc HELOC might get you funding in just a few days.

Potential tradeoffs to consider:

• May come with higher interest rates or more conservative credit limits
• Not all lenders offer no-doc options, and eligibility may be limited to high-credit-score borrowers
• Less documentation doesn't mean no due diligence; expect a hard credit check and property evaluation during the process

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Use a fully online lender

Traditional banks and credit unions often move at a slower pace, typically requiring in-person visits and manual paperwork. Fully online lenders, by contrast, are built for speed. Their digital platforms allow you to complete the entire process remotely, with instant prequalification tools, automated income verification and even virtual appraisals. Some online lenders also offer same-day approvals and funding within five to seven days, making them ideal for borrowers in a time crunch.

Potential tradeoffs to consider:

• May have stricter eligibility criteria or lower borrowing limits
• Less personalized service than you'd get from a local bank
• Some online lenders may charge higher origination fees or upfront costs

Apply with the lender that already holds your mortgage

If your current mortgage lender or servicer offers HELOCs, working with them can often speed up the application and approval process. Because your lender already has your financial and property information on file, including your payment history and credit score data, they may require less documentation and, in turn, have the ability to move more quickly toward approval. You might also benefit from loyalty discounts or bundled offers designed to reward existing customers.

Potential tradeoffs to consider:

• You might not get the best rate or terms compared to shopping around
• Not all mortgage lenders offer HELOCs or prioritize existing customers for faster funding
• May still require full underwriting, depending on lender policy

Choose a lender that offers automated or desktop appraisals

One of the biggest holdups during the HELOC process stems from the property appraisal process. Scheduling and completing a traditional appraisal can take a week or more, especially in a busy market. But some lenders now offer automated valuation models (AVMs) or desktop appraisals, which use data and algorithms to assess your home's value quickly, often in a matter of hours or days. This can help shave significant time off the overall process and may even eliminate appraisal fees.

Potential tradeoffs to consider:

• AVMs may value your property more conservatively than in-person appraisals
• Not all properties are eligible for automated appraisals (e.g., rural or unique homes)
• Some lenders may still request a full appraisal if there's any uncertainty

Use your HELOC lender's express or priority service (if available)

Some lenders offer premium or express services that prioritize your application for faster processing. These options are particularly useful if you're borrowing a larger amount or if your timeline is tight. Priority services often include dedicated support from loan officers and shorter wait times for underwriting and closing.

Potential tradeoffs to consider:

• May come with higher origination fees or closing costs
• Not all lenders advertise or offer this option
• Priority service doesn't guarantee same-day funding

The bottom line

If you're hoping to access your home equity quickly this July, you have plentiful HELOC options. Online lenders, no-doc applications and streamlined appraisals can all significantly reduce the time it takes to go from application to cash. But speed almost always comes with tradeoffs, often in the form of higher costs, stricter requirements or less flexibility. So, before rushing in, make sure to compare offers carefully, weigh the long-term cost of faster funding and choose the option that truly fits your financial goals.