Home Equity Line of Credit (HELOC)

Interested in a HELOC?  We can help!

Home equity lines of credit are mortgage loans secured by your home.  The loan is a revolving line of credit, and you can use the proceeds for many purposes.  One advantage of a HELOC is the ability to gain access to your equity without impacting your current mortgage interest rate.  For this reason, many homeowners choose a HELOC over refinancing their current mortgage.  

HELOC Advantages:  

- Low closing costs.  Closing costs are very low and often do not require any out-of-pocket expense

- Interest rates are often lower than consumer debt

- Consolidation of consumer debt can drastically lower monthly payments

- Financial flexibility

- Tax advantages when the proceeds are used for home repairs or renovation

- No restrictions on the use of loan proceeds

- Caps on rate increases

- No usage fees

Call us today to see if a HELOC is a good solution for your extra cash needs!  (503) 485-9500