Home Equity Lines of Credit (HELOCs)

Unlock Opportunities With Home Equity

Looking to tackle bigger goals? If you have equity in your home, a HELOC provides a cost-effective way to access funds for important expenses like home upgrades or debt consolidation.

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Secure Extra Funds with Ease with a HELOC

Roof repairs? College tuition? Consolidating debts?

When unexpected expenses arise or ambitious plans take shape, a Home Equity Line of Credit (HELOC) offers a financial lifeline that won’t strain your budget.

Understanding HELOCs

A HELOC is a flexible line of credit that lets you borrow against the equity in your home at a much lower interest rate than other forms of credit, such as credit cards.

You can make monthly payments on the withdrawn amount, and repayment terms are typically flexible and additional to your mortgage payments.

Endless Possibilities with a HELOC

Use your line of credit for various purposes that suit your needs, such as:

Home renovations, energy-efficient upgrades, furniture, or appliances
Investment opportunities
Secondary or higher education
Debt consolidation
Unforeseen expenses

First-time homebuyers may need to consult an expert broker for eligibility details based on their down payment size.

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Leverage Your Home Equity

HELOC allows you to access up to:

80% of your home’s market value or purchase price when combined with a current mortgage
65% of your home’s market value or purchase price as a standalone HELOC
Request withdrawal amounts within 1-2 days, depending on the lender
Minimum interest-only payment required on withdrawn amounts
Flexible repayment options with no penalties
Your line of credit remains available until you sell your home

When assessing whether a HELOC is a good idea or not, we need to ensure that any costs are outweighed by the overall savings.

Again, decisions need to be informed, long-term and financially advantageous for you.

HELOC vs. Refinance: What’s the Difference?

While a refinance is an alternative way to access home equity, you receive a portion of your new mortgage as upfront cash.

HELOC, on the other hand, allows you to access funds as needed, with repayment flexibility.

Refinance offers immediate cash but incurs interest from the start as part of your new monthly mortgage payment.

Mortgage rates for a refinance may be lower than those for a HELOC.

Get Your Best HELOC Rate

By securing a lower rate for your HELOC, you can save thousands while making improvements. Get in touch with Huber Mortgage and we’ll help you strategize your best decision!

Start The HELOC Process

Super-Fast Qualification Times

If you’re looking to obtain a HELOC, it’s crazy-easy to start the process with us.

You can connect via email, text or give me a call (250-212-7954), or simply fill out your easy online application form, and I’ll get back to you shockingly fast.

At Huber Mortgage, I offer lower rates, so you can save money on your deal and find the right mortgage fit for your situation.