Home Equity Line of Credit
What is a HELOC?
A Home Equity Line of Credit (HELOC) allows homeowners to borrow against the equity they’ve built in their property (up to 65%).
Unlike a traditional loan, a HELOC operates like a revolving credit line, where you can borrow, repay, and borrow again during the draw period.
It's an excellent option for covering large expenses, such as home renovations, education, or unexpected financial needs.
With flexible repayment options and typically lower interest rates than credit cards or personal loans, a HELOC gives homeowners a cost-effective way to tap into their home’s value while maintaining financial flexibility.
This will allow you to get approved for a set limit and then you can borrow funds as needed. You will only be charged interest on the amount that you borrow. If you decide to pay it back, your monthly interest payments will also decrease.
Fill out the free consultation form below and get started with the HELOC process today!
Thinking About a HELOC?
How much can you borrow?
A standalone HELOC can be up to 65% of your current home’s value.
How do you qualify?
Qualifying takes into account your credit, income, value of your home, and several other factors. It’s best to consult a mortgage specialist.
Required documents?
Recent mortgage statements, loan/line of credit statements, income verification, and other documents may be required.
Benefits of a HELOC
Flexible Access to Funds: You can borrow as much or as little as you need, up to your approved credit limit, and only pay interest on the amount you use.
Lower Interest Rates: HELOCs typically have lower interest rates than credit cards or unsecured personal loans because they are secured by your home.
Interest-Only Payments: During the draw period, many HELOCs allow you to make interest-only payments, helping to keep your monthly costs lower.
Use for Various Purposes: The funds from a HELOC can be used for a wide range of needs, such as home improvements, debt consolidation, education, or other large expenses.
Potential Tax Deductions: In some cases, the interest paid on a HELOC may be tax-deductible, especially if the funds are used for home improvements. Consult a tax professional for specific advice.
Revolving Credit: As you repay the borrowed amount, your credit limit is replenished, giving you ongoing access to funds during the draw period.
Improved Cash Flow Management: Since you can draw on the line of credit as needed, a HELOC provides a flexible option for managing cash flow over time.
