What Is A HELOC

What Is A HELOC

A HELOC (Home Equity Line Of Credit) is a tool to finance real estate purchases, having 100% liquidity just like a checking account. It provides a simple interest line of credit that recasts every single day for free. Since the HELOC computes interest differently based on the new balance daily, students achieve extremely fast principal reduction.

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    • How Can Someone Close Their HELOC Account

      Talk with the loan officer or lender to make sure there are no early penalty or fees. Once there is a $0 balance for the HELOC, visiting a branch or calling the lender's Customer Support will provide an employee who can provide assistance in closing ...

    • Can One Get A HELOC On An Investment Property

      Yes, we have several banks that offer a HELOC for investment properties up to 80% Loan-To-Value.

    • Can One Get A HELOC On A Purchase

      Yes, we have several banks that offer a HELOC for new home purchases in the first lien position, eliminating the need for a mortgage and refinance into a HELOC after the seasoning period has passed. Typically, these banks will require a 10% down ...

    • What Is A Hybrid HELOC

      A hybrid HELOC allows one to lock a portion of the outstanding balance at a fixed rate while leaving the rest on variable interest rate. With coaching, we are able to spend time and review each strategy and determine whether a fixed or a variable ...

    • Can A HELOC Work Like A Reverse Mortgage

      Yes, a HELOC allows a homeowner to access the equity paid into their homes just like a reverse mortgage; however, HELOCs do not have the incredibly high fees associated with accessing that liquidity (e.g. $0 to $1,000 for accessing up to $1M in ...