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- A HELOC (Home Equity Line of Credit) is a revolving loan secured by your home. You can borrow against the equity in your home, up to a pre-approved limit, and only pay interest on the amount you borrow.
- A HELOC typically has two periods: a draw period and a repayment period. During the draw period, you can borrow funds as needed up to your credit limit. After the draw period ends, you begin repaying the outstanding balance, usually through fixed monthly payments.
- Draw Period
- ☉ Borrow as much or as little as you need, up to your credit limit.
- ☉ Make interest-only payments on the amount you’ve borrowed.
- ☉ Access your funds easily through checks, a HELOC-linked card, or online transfers.
- Repayment Period
- ☉ Begin repaying both principal and interest after the draw period ends.
- ☉ Payments may increase during this period as you start paying down the principal.
- ☉ Plan for the possibility of a balloon payment at the end of your term.
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- Competitive Rates: Enjoy some of the most competitive interest rates in the industry, ensuring you get the best value for your home equity.
- Flexible Terms: Tailored HELOC options that fit your financial needs, with adjustable terms to suit your situation.
- Personalized Service: Our experienced loan specialists work with you to find the right solution, guiding you through every step of the process.
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- Standard HELOC: Access a revolving line of credit with an adjustable interest rate, perfect for ongoing expenses or projects.
- Fixed Rate HELOC: Lock in a fixed interest rate on withdrawals during your draw period, giving you more predictability in your payments.
- Interest Only HELOC: Pay only interest during the draw period, with flexible repayment options later, ideal for managing cash flow.
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- Flexible Borrowing: Perfect if you need ongoing access to funds, with the ability to borrow as needed.
- Lower Initial Payments: Interest-only payments during the draw period can ease cash flow pressures.
- Tailored to Your Needs: Ideal for home improvements, debt consolidation, or significant expenses, with the flexibility to use funds as you see fit.
- Quick Access to Funds: Fast and easy access to your home’s equity when you need it most, without the hassle.
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- Get Professional Advice: Speak with a knowledgeable specialist who can help you explore your HELOC options.
- Call us at (833) 984 2471 or contact us online to get started.
- Leave your number, and we’ll reach out to you as soon as possible to discuss your needs.
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