A Home Equity Line of Credit (HELOC) works much like a regular line of credit. You can borrow money whenever you want and up to the predetermined credit limit. You can also pay the money back and borrow it again when needed.
Some homeowners take out a HELOC solely as a form of financial protection, knowing that they can draw on their home equity line in case of emergencies like roof repairs, plumbing disasters or sudden car expenses. If emergencies do not arise, homeowners can simply leave their home equity line of credit untapped.
Benefits of Home Equity Lines of Credit (HELOC)
Your Home Equity Line of Credit is just a phone call away. Call First and Second Mortgages at 1-866-405-1228 and get started now.