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      Home Equity Line of Credit


      One of the biggest perks of homeownership is the ability to build equity over time. You can use that equity to secure low-cost funds in the form of a home equity line of credit (HELOC).

      Home Equity Lines of Credit (HELOC) use the equity in your home—that is, the difference between your home’s value and your mortgage balance—as collateral. As the credit line is secured against the equity value of your home, home equity lines offer extremely competitive interest rates—usually close to that of your mortgage. Compared with unsecured borrowing sources, such as credit cards, you’ll be paying less in financing fees for the same loan amount.


      • Home equity can be a great source of value for homeowners to access cash for renovations, large purchases, debt repayment, or down payment for another property such as a rental.
      • Home equity loans and lines of credit are secured against the value of your home equity, so lenders may be willing to offer rates that are lower than for most other types of personal loans.
      • A home equity loan comes as a lump sum of cash, often with a fixed interest rate.
      • A home equity line of credit is a revolving source of funds, much like a credit card, that you can access as you choose.
      • Dennis can access many lenders who offer HELOCS.  Feel free to reach out to him with questions.