Kin expands HELOC offering to California

Kin has expanded its home equity line of credit offering to California through its Kin Financing affiliate, following an earlier launch in Florida.

The product offers credit lines of up to $750,000 through an online application and automated underwriting process. Eligible homeowners can receive an approval decision in as few as five minutes and funding in as few as five days, according to Kin. The application begins with a soft credit check that does not affect the applicant’s credit score.

Borrowers can redraw available funds as the line is repaid and use a direct debt payoff feature to settle credit card balances during the loan process. Remote online notarization is available in counties that permit electronic recording.

The expansion follows Kin’s introduction of condo insurance and a flood endorsement in California this summer.