Home Equity Line of Credit Loans

A home equity line of credit loan (aka HELOC)  is a mortgage secured by your home. Home equity lines of credit allow you to have a "line of credit" that you may access using checks. Your monthly payment is calculated on the amount owed on the home equity line of credit. You have the ability to pay-down the home equity line of credit loan and then charge or "draw" from the equity line as needed.

Home equity line of credit loans offer some good benefits. In most cases you home equity line of credit is tax deductible. This allows you to do a debt consolidation of "bad debt" (high rate - non tax deductible debt, i.e. credit cards) and exchange it good debt... lower interest rates and tax deductible. Also, you can use your homes equity to do home improvements, save money for college, make investments, etc at low mortgage rates and low monthly payments with a home equity line of credit.

Home Equity Line of Credit Terms

There are many different types of home equity line of credit loans available. Below is the most common term of the home equity line of credit:

• Adjustable rate mortgage based on an index such as the prime rate with an initial "draw" period of 5 years then converts to a fully amortized loan for 20 years.

How can we Help You with Your Home Equity Line of Credit Loan?

• Apply Now for a Home Equity Line of Credit
• Get a Good Faith Estimate of Closing Costs for a Home Equity Line of Credit Loan
• Get a Personalized Home Equity Line of Credit Mortgage Rate Quote
• Request Free Home Equity Line of Credit Refinance Analysis
• Call Us Now: (800) 931-7377

California Refinance Mortgages can assist you with any type of refinance mortgages:

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