What is a HELOC?

Looking for mortgage advice? We'll be glad to answer your questions about your mortgage needs! Give us a call today at 9727982110. Ready to begin? Apply Online Now.

When you need to borrow some money to consolidate debts or purchase a big-ticket item, a home equity line of credit (HELOC) may be useful. A kind of revolving credit, a HELOC is secured by the equity in your home. This open-ended loan can be charged up or paid down over the set term of the loan. The interest rate fluctuates (usually monthly).

The lender will determine your credit limit (the maximum amount you can borrow) with the HELOC. Your credit history, income, debts and other financial information will affect your credit limit. An appraisal is needed on your house to determine the home's market value. Your property's market value, subtracted from your remaining mortgage balance will help to determine your particular credit limit.

Homewithloan.com can answer questions about Home Equity Lines and many others. Call us: 9727982110.

Get a Refinance Quote

Looking to refinance your home? Fill out the following form to get a fast quote from us.

Contact Info
Property Information
Mortgage Information
Questions

English French German Portuguese Spanish

Homewithloan.com

4815 State Hwy 121 Suite 2
The Colony, TX 75056