Home Equity Lines of Credit
Home improvements, debt consolidation and more.
A home equity line of credit (HELOC) is a flexible loan that allows you to borrow against the equity in your home. Equity is the difference between your home's current market value and the amount you still owe on your mortgage. Essentially, a HELOC lets you tap into the value you've built up in your home to access funds for various purposes.
Call Sam Gersman (NMLS - 718538) today at 1.815.230.8011
to learn more or click the button below and fill out the Contact Us form.
Key Features
- Borrow up to 80% loan-to-value.
- Five-year balloon. Draw and loan
period is 5 years.
- Flexible payment- Pay interest
each month on what you have
drawn. Pay on principal when you
want.
- No closing costs.
- Interest may be tax-deductible1
1 - Consult your tax advisor.
Common Uses
- Home Improvements: Renovations, repairs, or upgrades to increase your home's value.
- Debt Consolidation: Paying off high-interest credit card debt or other loans.
- Education Expenses: Funding college tuition or other educational costs.
- Major Purchases: Covering large expenses like a wedding, medical bills, or a new car.
- Emergency Fund: Accessing funds for unexpected financial needs.
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