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 Be Used To Pay Off Other Debts

      Yes, this program is engineered to work with any and all debts. Only student loans and car payments (on the first half of the repayment schedule) should not be rolled into a HELOC; additionally, any debts with a prepayment clause should be excluded ...