All About HELOC’s (Home Equity Line of Credit)

If you’ve heard about HELOCs, chances are you may be wondering how you could benefit from one... and if it's a good idea to open one. You may not know, a Home Equity Line of Credit could come in handy for many reasons. If you happen to be a homeowner with built up equity (as most homeowners are experiencing these days!) you could take a line of credit to: - Pay for a Home Renovation - Think new kitchen, bathrooms, a deck/patio, etc...) - Pay for a Large Expense - Needing some extra cash for the kids' college tuition, a large medical expense, or starting a business to bring in a side income?) - Access to Liquid Funds (Equity) - Have a HELOC open just in case of emergencies, or any other reason all without changing the rate on your primary mortgage. - And more... In today’s episode, I’m going to talk about the pros of opening a HELOC, how they work, as well as some disadvantages you may not have heard of, so that you can ultimately make a decision that works best for you! Needing an expert's advice on your current mortgage and today's opportunities? Reach out to speak with a trusted Mortgage Advisor by Call or Text directly to our office: 860-413-3938.