Home Buying
Six Things Your Mortgage Loan Officer Won't Tell You About a HELOC
Mortgage loan officer - A Home Equity Line of Credit (HELOC) is a financial tool that taps into the equity accumulated in your home. Read on to find out what the loan officer may leave out of the conversation.
A Home Equity Line of Credit (HELOC) is a financial tool that taps into the equity accumulated in your home. This equity represents the difference between your home's appraised value and the outstanding balance on your mortgage. Unlike a traditional loan, a HELOC operates as a revolving line of credit. This offers homeowners the flexibility to borr...
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