Heloc Loan

About Heloc loan

A Home Line of Credit loan, often abbreviated as HELOC (Home Equity Line of Credit), is a flexible borrowing option secured by the equity in one's home. It functions similarly to a credit card, where borrowers are given a line of credit they can draw from as needed, up to a predetermined limit. The equity in the home serves as collateral for the loan.

Borrowers can access funds through checks, online transfers, or a special credit card linked to the HELOC. Interest is typically variable and only accrues on the amount borrowed, offering flexibility and potentially lower initial costs compared to traditional loans. HELOCs are commonly used for home renovations, debt consolidation, or other major expenses, offering homeowners a convenient way to tap into their home's equity while retaining the ability to repay and redraw funds over time.

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Introducing the 5-day HELOC

Giving our customers the option to tap home equity without giving up their low mortgage rate.

  1. Have your money in as little as 5 days
  2. MAX 80% OF YOUR HOME VALUE inclusive of any other liens
  3. 1st, 2ndor 3rd lien position
  4. Must draw in full
  5. No Appriasal!!!
  6. Payoff high interest debt FAST!!!
  7. Tax deductible

(1) The HELOC product requires the customer to pledge their home as collateral, and the customer could lose their home if they fail to repay.

(2) Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day closing assumes closing the loan with our remote online notary. Closing timelines will be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing.

Disclaimer

This highly-automated application creates a fast and easy

experience.

  • Standalone HELOC, for 1st, 2nd and

3rd lien positions

  • 100% online application, no need to go to

the bank, apply from the comfort of home!

  • Lower rates, compared to alternatives

such as personal loans and credit cards

  • Up to $400k, with terms of 5, 10, 15,

or 30 years

  • Fast funding, apply in minutes with

funding in as few as 5 days

  • Pay for other expenses, such as home

renovations or debt consolidation

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Benefits of a Heloc loan

  • Cost Efficiency: By consolidating your rehab loan and mortgage into a single home loan, you can save money on loan closing costs.
  • Versatility: Whether you’re purchasing a new home or refinancing your existing one, our rehab loan is accessible to households in both situations.

  • Diverse Solutions: No matter the scale or specifics of your home improvement project, our rehab loan offers expanded options tailored to meet your unique needs and aspirations.

Heloc loan eligibility requirements

  • Good credit score
  • Down payment of 3.5% or more
  • Self-occupancy of the property
  • Debt-to-income ratio below 45%
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Ready to get started?
Apply now or request a quote today!