With your Trovy HELOC, you will receive a Trovy Card that you can use to access your line of credit. You can use it for purchases or cash advances anywhere Mastercard is accepted, giving you flexible access to your home equity funds when you need them. There are no draw fees when you use your Trovy card for purchases.

Yes! We offer the option for predictable monthly payments on balance transfers and cash outs with Trovy FixedPay. You can also convert your Trovy card draws and balances to a fixed rate with Trovy Fixed Pay.

You can use your Trovy HELOC to request an ACH transfer to your bank account, and you can use your Trovy Card to take cash out at an ATM. We do not offer checks to access your HELOC funds. This gives you quick access to your home equity when you need it most. Each cash advance will be subject to a fee of up to 3.99% of the amount drawn, up to a 5% life of loan cap.

Trovy does not require any upfront draw when you open your HELOC if your loan size is $100,000 or less. If you need more than $100,000, you can take an upfront draw in the form of a cash advance or balance transfer at closing. You can draw funds whenever you need them.

When you initiate a cash advance or balance transfer, you can choose to convert it into a FixedPay draw with a fixed APR and equal monthly payments until it's paid off, or leave it as a variable-rate balance with a minimum payment of 1% of principal plus interest. You can also convert all or part of your balance to a fixed rate, locking in predictable monthly payments for that portion. With Trovy FixedPay, you can elect a fixed rate and choose your repayment period, which can range from 1 year to 25 years.