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HELOC Loans for Houses                                                                                                                      

HELOC loans for houses (Home Equity Line of Credit) have an interest rate tied to the Prime Rate and allows you to take equity from a house.  An interest only HELOC will lower your payment. For difficult to verify income, stated income HELOC loans for houses are available. You incur interest costs with your HELOC only on the money used. HELOC loans for houses with no closing costs are also available.

An advantage of a HELOC is that your HELOC interest costs are generally tax deductible. A comparison between the after tax costs of the HELOC and any consumer loan should be done before any major purchase.

Our HELOC 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. Our HELOC lenders will allow up to a 50% HELOC debt ratio with good credit. Please email me with any questions about your HELOC

Common uses of a HELOC

  • Debt Consolidation HELOC. If your debt is too much you may reduce your monthly payments. See the calculator below to see how much you could save.

  • Purchase HELOC. If you are considering an investment in houses or a vacation home, it may make more sense to unlock the equity in your home rather than move the cash from other investments. 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.

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

I have page on how to calculate your HELOC loans for housesqualification ratios.

I have a page on HELOC documentation requirements.

Read more about HELOC Closing Costs

Learn about the differences between home equity loans and lines

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

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.

HELOC loans for housesPrequalify for your HELOC loans for houses

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