Home Equity Line of Credit
Looking for a Home Equity Line of Credit? We'd be thrilled to discuss our many mortgage solutions! Give us a call at 214-300-8756. Ready to begin? Apply Now
When you need some extra cash to make a large purchase, renovate your home, or pay off a high-interest credit card, a HELOC (home equity line of credit) may be just what you're looking for. A HELOC is a form of revolving credit secured by the equity in your home. This open-ended loan can be charged up or paid down during the loan term. The loan interest rate usually fluctuates every month
The lender will specify your credit limit (the maximum you can borrow) in the HELOC. Your credit score, rate of pay, debt and various other financial information can determine your credit limit. In order to ascertain your home' current market value, you are going to need an appraisal on your home. Your property's up-to-date value, subtracted from your remaining mortgage balance helps to set your specific credit limit.
F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can walk you through the process of getting a Home Equity Line. Call us at 214-300-8756.