HELOC vs. Regular Home Loans?
A home equity line of credit (HELOC) is a type of revolving credit that allows homeowners to borrow against the equity in their home. Equity is the difference between the current market value of the home and the outstanding mortgage balance. With a HELOC, homeowners can access funds up to a pre-approved limit and borrow money as needed, similar to how a credit card works.
The interest rate on a HELOC is typically variable and may be based on the prime rate or another benchmark. Homeowners can use the funds from a HELOC for a variety of purposes, such as home improvements, debt consolidation, education expenses, or other major expenses.
As with any type of borrowing, it's important to carefully consider the terms and conditions of a HELOC and to only borrow what you can afford to repay.
Why Should You Choose Us?
We're here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our simple Hard Money Rate Quote.
Our Core Purchasing Service
Whether you’re looking to purchase a new home or refinance your existing home,Groves Capital can provide all the help you need.
States We Lend In
Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.