Editorial policy
How we write, check and update every page on HELOCHQ, and how to tell us when something is wrong.
Reviewed by Shawn Way, NMLS #1007298★ 4.9 from 111 reviewsUpdated
How are HELOCHQ guides written and fact-checked?
Every HELOCHQ guide is reviewed by Shawn Way, a licensed loan officer (NMLS #1007298). Rates come from the published prime rate and are dated; examples are calculated, not estimated; original data comes from HELOCs his team funded; and rules are checked against federal sources such as the CFPB, the Federal Reserve and the IRS. Pages show the date they last changed.
On this page
Who reviews the content
Shawn Way has been in mortgage lending since 2012 and is a Senior Vice President at West Capital Lending, Inc. (NMLS #1566096). He reviews the guides for accuracy and for how lending works in practice. His license is public: verify NMLS #1007298. More about Shawn.
Where the facts come from
- Rates. HELOC rates are quoted as the prime rate plus a margin. The prime rate and the date it last changed are shown wherever a rate appears, and pages are rebuilt after each Federal Reserve decision.
- Rules and regulations. Federal rules are checked against primary sources: the Consumer Financial Protection Bureau (including Regulation Z), the Federal Reserve and the IRS. Guides list their sources at the bottom.
- Original data. The HELOC statistics, the HELOC Report and recently funded HELOCs come from funding records for HELOCs closed by loan officers on Shawn's team. Records are anonymized: no names, addresses or account details, and amounts are rounded where individual loans are shown.
- Home values and loan limits. State and city figures come from the U.S. Census Bureau and the Federal Housing Finance Agency, as noted on each page.
- Lenders. Lender reviews use each lender's own published terms, with the date they were checked.
How examples are calculated
Payments, interest and borrowing limits are calculated with standard loan formulas from the numbers shown, so you can check them yourself. Calculators run in your browser and the results are also written into the page. Examples are illustrations, not offers of credit; your own rate and terms depend on your application.
Dates and updates
Each page shows the date its content last changed. A page's date moves only when that page changes, not every time the site is published. Rates and rate-dependent examples update after each prime rate change.
How we make money, and what that means for the content
HELOCHQ is owned and operated by Shawn Way. Loans are made through West Capital Lending, Inc., and Shawn is paid if you close a loan with his team. That's why every guide shows the risks along with the savings, including when a HELOC is the wrong choice. Lender reviews of other companies are based on their published terms.
Corrections
If you find an error, call or text (949) 569-7019 or use the contact page. Confirmed errors are corrected and the page's updated date changes.