Category Archives: HELOC Questions

will i owe a balloon payment

Understanding the HELOC: Will I Owe a Balloon Payment?

A HELOC is a loan that’s set up as a line of credit, that’s backed by your home as collateral. It can be drawn from up to a certain dollar amount and has a “draw period” where you use it like a checking account. It also has a repayment period, usually lasting 10 to even […]

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Understanding the HELOC When Can I Borrow Money

Understanding the HELOC: When Can I Borrow Money?

As you’ve researched, you may have wondered, “when can I borrow money from a HELOC?” And that’s a good question. Let’s look at the typical answer. A home equity line of credit (HELOC) allows you to take advantage of your home’s value when you need it. To accomplish that, each HELOC is set up into […]

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what happens after the draw period

What Happens After the Initial Draw Period?

If you’re thinking of getting a HELOC, you may have heard the term, “draw period.” And you may know what it is. But, what happens after the draw period? We’ll get into that below. But first, a quick refresher. A home equity line of credit is a valuable tool that can impact your financial outlook […]

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questions to ask your loan officer about heloc terms

4 Big Questions to Ask Your Loan Officer About HELOC Terms

When it comes to a home equity line of credit and putting it to work to improve your financial situation, you probably have a lot of questions. And that’s a good thing! Before you make any big decisions, there are a few things you need to know. Check out our list of top questions to […]

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can i get a heloc

My Credit Isn’t Perfect – Can I Get a HELOC?

Having good credit is the cornerstone of a healthy financial outlook. But the circumstances of life can sometimes get in the way. Your house needs a new roof. Your car breaks down. You have an unexpected illness. And so on. These situations can have a negative impact on your credit score. However, at times, you’ll […]

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