Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) has become an innovative way to refinance your home. A HELOC allows you to use the equity which has built up in your home.

This is ideal for the client who wishes to have the ability to make purchases without applying for a new loan each time. Let's say you want purchase a new car, or do renovations around the house; a HELOC allows you to use your equity when you want to and only pay interest on the outstanding balance. You can use as much as 95% of your house value.

It is also becoming more and more common for people to use their equity in their house for investment purposes. The HELOC is the perfect product for this type of person because as they pay down the HELOC each year they can take the equity back out to reinvest it. This allows your mortgage to become TAX DEDUCTIBLE.

Contact our office today to learn more about HELOCs.