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HELOC

HELOC

Enjoy the flexibility of borrowing funds when you need them, without committing to a lump sum upfront. A HELOC (Home Equity Line of Credit) is a revolving line of credit secured by the equity in your home. It allows homeowners to borrow funds against the value of their property—only as needed—similar to how a credit card works, but with much lower interest rates and longer repayment terms.

Instead of receiving a lump sum upfront (as in a home equity loan), you get a flexible credit line you can draw from during a set period, usually up to 10 years. You can borrow, repay, and borrow again within the limit as needed.

HELOCs are commonly used for home improvements, debt consolidation, major expenses, or as a financial safety net.

Why choose a Heloc Loan

  • Versatile Property Usage: Use for both primary residences and investment properties.
  • Lightning-Fast Closing: Close in as little as 5 days for quick access to funds.
  • High Leverage Potential: Access 70% - 90% combined loan-to-value for maximum borrowing power.
  • Investment Property Friendly: No appraisal required for investment properties, saving time and money.
  • Flexible Rate Options: Choose between fixed-rate and adjustable-rate options to match your financial strategy. Multi-Unit Property Support: Finance 1-4 unit properties on both primary and investment real estate.

How HELOC loans work

  • Property Evaluation: Lender assesses your property value and available equity to determine borrowing capacity.
  • Credit Line Establishment: Lender approves a maximum credit limit based on your property equity and financial profile.
  • Draw Period Activation: Access funds as needed during the draw period (typically 5-10 years) - only pay interest on what you use.
  • Flexible Fund Usage: Withdraw funds in any amount up to your limit, similar to a credit card but with property as collateral.
  • Interest-Only Payments: During the draw period, make minimum payments covering only the interest on outstanding balances.
  • Repayment Phase: After the draw period ends, enter repayment phase where you must pay both principal and interest until the balance is zero.