Home Equity Line Of Credit (HELOC)
Today we're going to talk about a home equity line of credit commonly referred to as a HELOC.
A home equity line of credit is a line of credit that's secured against your home. It allows you to access equity from your home in the future if you need it. You can borrow up to 65% of your property's value, and you only pay interest on the amount that you borrow. And interest only payments are required for the payment that you make.
The other beautiful thing about a home equity line of credit is that it's totally open for you to pay off at any time and the money is still available to you to use again in the future.
As always, if you have more questions, reach out to our team.
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