HELOC Loan Application

Why a HELOC?

Financial Flexibility:

  • Increases buying power compared to a closed-end loan.
  • Funds can be used for various needs, including home improvements and additional items (e.g., furniture for around the pool).
  • No need for additional loans or credit pulls for further home projects.

Versatility and Eligibility:

  • Many homeowners with equity will be approved across a prime and near-prime credit spectrum.
  • Applicable to second homes and investment properties.
  • Possible tax deductions for interest paid.
  • No need for a traditional appraisal up to $400,000.

Interest Rates and Payments:

  • Variable interest rates with fixed available.
  • Rates start below prime 30-year repayment period with interest-only payments options available during the 10 year draw period.
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