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A HELOC offers a low interest rate, usually tied to the prime rate and a low monthly payment, secured by your home. As the home owner, it frees you up to do whatever improvements you want on your home or property.
With a HELOC, you can have up to 100% of your home's value available to you for improvements, rehabbing and life's unplanned emergencies. You only pay for what you spend leaving funds available for other projects and/or emergencies. The loans are typically repaid over a 10 year amortization schedule.
A mortgage lender can better provide details and current rate information. Your |
