Get Your Home equity line of credit here!

If you need to borrow money to pay off debts or make a major purchase, a home equity line of credit (HELOC) can be useful. A HELOC is a form of revolving credit secured by the equity in your home. This is an open ended loan that can be paid down or charged up for the term of the loan, much like a credit card. The interest rate fluctuates (typically monthly).

With a HELOC, We can approve you based on different types of income verification.  We offer full documentation income & stated income documentation lines and in cases where our borrowers have over a 680 Fico score we can get you approved for 100% of the value in your home. In determining your credit limit, your income, debts, credit history and other financial obligations will be reviewed. An appraisal may be required on your home to determine the home's market value. Your credit limit will be based on a percentage of your home's appraised value, which is then subtracted from the balance owed on your existing mortgage.

When you take out a HELOC, you pay for many of the same expenses as when you financed your original mortgage, such as an application fee, title search, appraisal, attorneys' fees, and points (a percentage of the amount you borrow).

Most HELOCs have a period (5, 10, even 20 years) during which you can borrow money. Typically, you will use special checks or a credit card to draw on your line. You will be required to make a minimum payment each month – usually the interest that accrued during the draw period. However, the interest you pay is usually tax deductible. At the end of your "draw period," you will be required to repay or amortize the remaining balance of the loan, making monthly payments on the principal and interest.