Free up the cash in your home now!
Borrow up to 100% of the current value of your home for:
Debt Consolidation
Home Improvements
Vacation
Extra Cash
College Tuition
Past Due taxes
Divorce Settlements
Recreational Vehicle
Cash for any reason
Our Free Application takes less than a minute !
HELOC stands for home equity line of credit, or simply "home equity line." It is a loan set up as a line of credit for some maximum draw, rather than for a fixed dollar amount.
For example, using a standard mortgage you might borrow $150,000, which would be paid out in its entirety at closing. Using a HELOC instead, you receive the lender’s promise to advance you up to $150,000, in an amount and at a time of your choosing. You can draw on the line by writing a check, using a special credit card, or in other ways.
HELOCs are convenient for funding intermittent needs, such as paying off credit cards, making home improvements, or paying college tuition. You draw and pay interest on only what you need
Call today to chat with a Heloc Mortgage Specialist.
Applying for a heloc mortgage is quick, easy and free.
| A HELOC or HELOC Loan is very similar to a credit card except it uses the equity in your home as a revolving line of credit. You pay only if and when you actually use the HELOC Loan. But, unlike, credit cards, the interest is usually tax deductible. You can get a sum of money from the HELOC at closing or only part of your money from the HELOC Loan and draw on the rest when you need it. Your HELOC Rate will depend on your credit history and current credit scores. HELOC Loans are available for wage earners and the self employed. A HELOC is a good choice if you like ready access to your equity and the HELOC Rate usually has a lower rate than traditional second mortgages. You can use your HELOC LOAN to consolidate your debts and lower your payment and use the HELOC Calculator to compute your monthly savings. Your HELOC Mortgage can also be used for home improvements and you can use the HELOC Calculator to compute your new monthly payment on your HELOC Mortgage. The HELOC Rate on your HELOC Mortgage is almost always lower than the interest rate on credit cards and the HELOC Calculator will show you how much you will save by obtaining a HELOC. |