A HELOC is a type of loan that allows you to borrow against the equity in your home. Equity is the difference between the current market value of your home and the outstanding balance on your mortgage. With a HELOC, you can access funds as needed, up to a certain limit, using your home as collateral.
Use a HELOC to pay off high-interest credit card debt and consolidate your payments into one with a potentially lower interest rate, saving you money in the long run.
Access funds from your HELOC to finance your dream vacation without dipping into your savings or using high-interest credit cards, allowing you to enjoy your trip worry-free.
Utilize your HELOC as a safety net for unexpected expenses or emergencies, providing peace of mind knowing you have access to funds when you need them most.
Enhance your home's value and comfort by using your HELOC to finance renovations or upgrades, transforming your living space into the home of your dreams while potentially increasing its resale value.
Invest in your entrepreneurial aspirations by using your HELOC to finance a new business venture or support the growth of an existing one, leveraging your home equity to fuel your ambitions.
Whether it's a wedding, milestone celebration, or once-in-a-lifetime event, use your HELOC to fund special occasions and create unforgettable memories for you and your loved ones.
The minimum credit score to qualify for a HELOC loan starts at 620.
The HELOC must be for an owner occupied residence. Investment properties or homes listed for sale do not qualify.
HELOC loans are available for single family site built homes, townhomes, condos, 1-unit properties, and homes on 10 acres or less.
450 Century Parkway, Ste. 250, Allen, Texas 75013, United States
A home equity line of credit allows you to borrow up to 80% of the combined value of your home.
A soft credit inquiry is used for the HELOC loan application and will not affect your credit score.
HELOC loans in Texas are reserved for primary residence only. A cash-out equity loan is an option for investment properties.
HELOCs have many terms such as 5yr, 10yr, fixed, variable, etc. Determine the HELOC term that works best for your needs, then compare HELOC rates to offers on similar loan terms.
HELOC rates are based on prime rate plus margin. A current HELOC rate quote does not impact your credit score.
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