Get Access To Your Home Value With A
NO DOC HELOC!
Take advantage of your hard-earned equity today!
A No Doc HELOC allows you to pull equity out of your home on your own terms.
Renovate your home.
Whether you are renovating to get more space, reduce energy costs, or to turn your house into your dream home, accessing your home equity can be a good option.
Tax advantages.
Interest paid on a HELOC may be tax-deductible, whereas interest paid on a cash-out refinance may not be deductible in certain circumstances.
Consolidate debt.
If you are finding it hard to manage monthly payments for credit cards, student loans and auto loans, you may be able to consolidate your debt with a home equity line of credit and make one monthly payment..
Life's unexpected expenses.
Whether planned or unplanned, large purchases or expenses can throw a wrench in your budget. You can access the equity in your home to finance things like a car, tuition or to pay for a wedding.
The Facts about No Doc HELOCs
- Save money with a HELOC over a cash-out refinance: HELOCs usually have lower interest rates than cash-out refinances because they are secured by the borrower’s home equity.
- HELOCs are not just for home repairs: While home improvement is a common use for a HELOC, these lines of credit can be used for a variety of expenses, such as debt consolidation, unexpected expenses, and even financing a child’s education.
- It does not put your home at risk: As with any secured line of credit, your home serves as collateral, but you only pay interest on the amount you actually use. As long as you make timely payments, your home will not be at risk.
- It is not a one-time credit: With a HELOC, you have the ability to draw and repay funds as you need them, making it a flexible financing option. This is different from a traditional home equity loan, which provides a lump sum at the time of origination.
Unlock the potential of your home with a HELOC!
FAQ: What Do You Need to Know about HELOCs?
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Q: What Is A Home Equity Line Of Credit?
A home equity line of credit is a revolving line of credit secured by your home and is the most flexible type of home financing available. As payments during the draw period are applied to the outstanding principal balance on the credit line, your available credit increases. -
Q: How do Home Equity Lines of Credit work?
A home equity line of credit (HELOC) is a revolving form of credit secured by your property. You can borrow as little or as much as you need, up to your approved credit line and you pay interest only on the amount that you borrow. -
Q: What Makes A HELOC An Attractive Option?
Interest rates for home equity lines are typically lower than for other forms of credit because your home is used as collateral – meaning the risk to a bank is less than with an unsecured loan. A lower rate means a lower cost to you — and the interest you pay may be tax deductible1 as well.
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Q: How Long Does It Take To Get The Credit?
The length of time to process the application varies depending on your situation. Once you’ve signed the documents at closing, the funds will be available after a waiting period of three business days on accounts secured by a primary residence. -
Q: How Much Can I Borrow?
You can borrow as little as $15,000 or up to $750,000 (up to $1 million for properties in California), depending on your credit history, available equity in the property and your current monthly debt.
Get Started with Your No Doc HELOC Today!
Unlock the potential of your home equity with a No Doc HELOC!
This flexible loan option allows you to tap into the equity you’ve built up in your home to use for a variety of expenses.
With a HELOC, you have the financial freedom and peace of mind to achieve your goals and live life on your own terms. Don’t let your hard-earned equity go to waste – find out if a No Doc HELOC is right for you today!