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