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Equity Lending HELOC                                                                                                                        

An equity lending HELOC has an interest rate tied to the Prime Rate and allows you to take equity from a property.  An interest only equity lending HELOC will lower your payment. For difficult to verify income, a stated income equity lending HELOC is available. You incur interest costs only on the money used with equity lending. An equity lending HELOC with no closing costs is available as well.

A major advantage of an equity lending HELOC is that your interest costs are tax deductible. A comparison between the after tax costs of the HELOC and any consumer loan should be done before any major purchase. Please give me a call if you need help with the calculation.

Our lenders can lend up to 100% of the value of your home but understand that the interest rate will be somewhat higher if your HELOC is over 90%(combined first trust and HELOC) of the value of the property. Lenders will allow up to a 50% HELOC debt ratio with good credit. Please see the link below for more information on HELOC qualification ratios.

Common uses of an equity lending Heloc

  • Debt Consolidation equity lending HELOC. If your other debt is too much you may dramatically reduce your monthly payments. See the calculator below for an idea of how much you could save.

  • Purchase HELOC. If you are considering an investment in income producing real estate or a vacation home, it may make more sense to unlock the equity in your home rather than move the cash from other investments which are doing well for you. Please see my pages on Investment Property or Vacation Homes for more information.

  • Finance a Major Purchase. If a new car or boat is in your future, you may want to compare payments.

  • Children's Education. Many people find a HELOC the most logical way to pay for their children's education. Exactly what I did when my son went to college and I saved a lot of money compared to any other option.

  • The new Asset Manager HELOC is a creative HELOC which gives you complete control over your mortgage as well.

I have page on how to calculate your HELOC qualification ratios.

I have a page on HELOC documentation requirements.

We offer the ability to qualify and close into several unique programs which accommodate borrowers with non traditional income or asset situations. There are HELOC programs for owner occupied, investment property and vacation homes. A HELOC can be either fixed rate ( often described as a HELOAN) or variable with the Prime Rate. If you choose a fixed rate product, the HELOC will amortize over a 30 year term while the variable rate product is typically interest only for 10 years and then becomes fully amortizing.

Learn more about the tax considerations of home equity lending

Read more about Home Equity Lending Closing Costs

Learn about the differences between home equity loans and lines

I have included a section on the new Cash Flow ARM. A LIBOR or MTA based product which gives you complete flexibility in managing your mortgage.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.


Equity Lending HELOCPrequalify for your Equity Lending HELOC

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