HOME EQUITY LINE OF CREDIT

Home Equity Line of Credit

Qualified homeowners can tap into their home’s equity with a Home Equity Line of Credit, or HELOC. Funds can be used to consolidate debt, pay of credit cards, or make home improvements, among other uses.

Different from a home equity loan which gives you a lump sum payment, a HELOC offers a line of credit that you can borrow against when you choose to.

Like credit cards, HELOCs also come with variable interest rates, and your monthly payment will depend on how much you borrow and the current interest rate.

You typically need good credit to qualify, and these loans won’t work for consumers who don’t have considerable equity in their home.

Advantages of a HELOC

Interest rates are low
Interest may be tax-deductible
You can borrow only what you need
Flexible repayment options

Disadvantages of a HELOC

You’re using your home as collateral and risk foreclosure if you can’t pay
Variable interest rate
Risky if you are financially undisciplined
Reduces the equity you have in your home
If home values drop, you could end up owing more than your home is worth

Learn More

Call us at 443-398-0711 or click the button below for a free consultation, and we’ll be happy to help you determine the right loan program for your needs.

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Why Us

We pledge to take the time to honestly and openly educate you on your options and risks. We are faster than other providers because of our decades of experience and industry-leading technology. We can keep your fees low because of our efficiency, in-house underwriting and processing, and access to a variety of loan programs.

Our Bank Partner

All residential loans are done through First Home Bank (NMLS ID 806183) where Bryan is a Branch Manager. First Home Bank (NMLS ID 806183) is redefining what is possible. Ranking as a Top 10 SBA lender in the nation, the combination of a powerful team of more than 100 residential mortgage originators across the country, and five full-service banking centers throughout the Tampa Bay region, First Home believes everyone deserves to get the most from their bank.

BUYER READY - FOR PURCHASES

One of our greatest features is that we offer a full underwriting approval without having to be under contract. This is an incredibly useful tool when submitting a contract offer. We get the buyer actually pre-APPROVED, not pre-qualified. This makes it so that the buyer is qualified and as attractive as a cash offer. This is especailly important in seller/highly competitive markets

Our Commercial Loan Partner

Our partner Oak View Financial offers a variety of commercial financing programs with competitive rates and terms to meet your needs. Whether you are looking for a long-term fixed rate or short term bridge loan, our commercial mortgage professionals have the experience and knowledge to guide you through the financing process and obtain the product that best suits your needs.