Smart Savings
Through Home Equity
A smart way to save money - leveraging
the equity of your home to secure a
revolving line of credit with lower
interest rates!
Smart Savings
Through Home Equity
Introducing the Home Equity Line of Credit (HELOC)
A smart way to save money - leveraging the equity of your home to secure a revolving line of credit with lower interest rates!
Frequently Asked Questions:
● What is a home equity line of credit?
A home equity line of credit, or HELOC, is a second mortgage that gives you access to cash based on the value of your home. You can draw from a home equity line of credit and repay all or some of it monthly, somewhat like a credit card.
● How does a HELOC work?
Much like a credit card that allows you to borrow against your spending limit as often as needed, a HELOC gives you the flexibility to borrow against your home equity, repay and repeat.
● How much can you borrow?
The maximum amount of your home equity line of credit will vary based on the value of your home, what percentage of that value the lender will allow you to borrow against and how much you owe on your mortgage. Two quick calculations can give you an idea of what you might be able to borrow with a HELOC.
Frequently Asked Questions:
● What is a home equity line of credit?
A home equity line of credit, or HELOC, is a second mortgage that gives you access to cash based on the value of your home. You can draw from a home equity line of credit and repay all or some of it monthly, somewhat like a credit card.
● How does a HELOC work?
Much like a credit card that allows you to borrow against your spending limit as often as needed, a HELOC gives you the flexibility to borrow against your home equity, repay and repeat.
● How much can you borrow?
The maximum amount of your home equity line of credit will vary based on the value of your home, what percentage of that value the lender will allow you to borrow against and how much you owe on your mortgage. Two quick calculations can give you an idea of what you might be able to borrow with a HELOC.
Frequently Asked Questions:
● What is a home equity line of credit?
A home equity line of credit, or HELOC, is a second mortgage that gives you access to cash based on the value of your home. You can draw from a home equity line of credit and repay all or some of it monthly, somewhat like a credit card.
● How does a HELOC work?
Much like a credit card that allows you to borrow against your spending limit as often as needed, a HELOC gives you the flexibility to borrow against your home equity, repay and repeat.
● How much can you borrow?
The maximum amount of your home equity line of credit will vary based on the value of your home, what percentage of that value the lender will allow you to borrow against and how much you owe on your mortgage. Two quick calculations can give you an idea of what you might be able to borrow with a HELOC.
Follow these steps:
Follow these steps:
Enter your details
Answer some questions about your home equity needs to help us find the right lenders for you.
Choose a lender
After selecting your top options, connect with lenders online or by phone. Next, choose a lender, finalize your details and lock your rate in.
Follow these steps:
Enter your details
Answer some questions about your home equity needs to help us find the right lenders for you.
Choose a lender
After selecting your top options, connect with lenders online or by phone. Next, choose a lender, finalize your details and lock your rate in.