HECMs are reverse mortgages that allow qualified individuals to
borrow against the equity in their homes with a promise to repay the loan when the home is sold.
A Home Equity Line of Credit from Heartland Bank allows you to
borrow against the equity in your home with the flexibility and ease of using your approved funds up to the limit, making payments against the balance, then using the available funds again as needed.
This is a type of loan that allows you to
borrow against the equity in your home with some protection against the loss of your house.
Not exact matches
A
Home EquityLine of Credit from First Citizens allows you to borrow against the equity you have built in your home providing you with fast and convenient access to funds whenever you need
Home EquityLine of Credit from First Citizens allows you to
borrow against the
equity you have built
in your
home providing you with fast and convenient access to funds whenever you need
home providing you
with fast and convenient access to funds whenever you need it.
It is possible
in some cases to pull cash out of the
equity in your
home by
borrowing against your
equity with a «Cash - Out Refinance.»
You have the option to refinance your
home through the same or a different lender,
in order to replace your current mortgage
with a new one that offers lower interest rates, or to
borrow cash
against your
home's
equity.
Whether you are looking for a consumer loan or to
borrow against the
equity in your
home, Citizens Bank can tailor a loan
with your budget
in mind.
Footnote 2 How a HELOC works
With a HELOC, you're
borrowing against the available
equity in your
home and the house is used as collateral for the line of credit.
A
home equity installment loan is a one - time loan that is secured by your
home and provides you
with the ability to
borrow a fixed dollar amount
against the available
equity you have
in your
home.
Borrowing against it is just as important because a HELOC is a mortgage
with similar implications; and
in some cases, depending on the fine print, a
home equity line of credit can affect your credit rating, your ability to
borrow for other needs, and even your ability to use your credit card going forward,» said Leclair.
With a
home equity loan or
home equity line of credit, the borrower puts up the
equity in his
home as collateral — essentially, this means
borrowing against the amount your
home is worth minus your current mortgage balance.