‍

This post is based on a true story, with details changed for privacy.

The Problem

When my roof started leaking in the middle of a snowstorm, I panicked. Every contractor quoted me over $25,000 to get it fixed and I had less than $2,000 in my savings account. I considered swiping a credit card, but the idea of 25% interest made my stomach turn.

The Wrong Options

• Credit cards? Interest rates were sky-high.
• Personal loan? The payments would crush my budget.
• Cash-out refinance? My mortgage is locked in at 3.25%. Refinancing now would mean losing that and restarting a 30-year loan at more than 7%.

None of it made sense. Until I found a better option.

The HELOC Discovery

I saw an ad for Upstart’s HELOC while scrolling Facebook. I’d heard the term before but never really looked into it. Turns out, a HELOC (Home Equity Line of Credit) lets you borrow against your home’s equity without replacing your entire mortgage.

Upstart made the process surprisingly simple. I:

• Checked my rate in 3 minutes (with no impact to my credit score)
• Got approved in a few days
• Only borrowed what I needed, when I needed it

And best of all: the interest rate was way lower than a credit card.

HELOC vs. Other Options 

What I Learned

• I didn’t need to borrow all $25k at once
• I could keep my 3.25% mortgage untouched
• I had flexibility and control—something I never felt with a bank loan

Key Takeaway

If you’re a homeowner and you’re drowning in repair costs, don’t panic. Don’t reach for a high-interest card. Don’t let a bank convince you to refinance your entire home.

Instead, check if a HELOC fits your needs. With Upstart, the process is clear, fast, and tailored to your financial picture—not just your credit score.

‍