Home Equity Line of Credit
Are you looking for quick funds? The easiest and the quickest way to draw funds is to arrange a Secured Line of Credit using the equity of your home.
Use may use funds to Pay off debts | Home Renovations | Childrens™ education | Vacation and more..
What is a Home Equity Line of Credit?
It's the difference between the current value of the home and any total unpaid mortgage balances. To qualify for a Home Equity Line of Credit one must have a substantial amount of equity.
How much will I qualify?
To calculate the amount one can qualify, simply find out the current value of the home and take 20% off the value. Deduct any unpaid mortgages (mortgage balance or balances if you have a 2nd, 3rd etc.) If the balance is a positive amount then you will qualify. If the balance is negative call one of our agents to discuss your situation.
Here's a simple example:
Value of home $500,000
Take 20% off the value $100,000
Less Mortgage balance $250,000
Available to draw funds $150,000
You will be able to obtain a $150,000 Home Equity Line of Credit as per the above example.
The easiest and the quickest way to draw funds is to arrange a Secured Line Of Credit using the equity of your home. The process is simple and the rates are reasonable.
Contact one of our representatives to find out how you can get a secured line of credit today.