See how a Home Equity Line of Credit or Home Equity Loan can be a better option for tapping into your home’s equity.
Home Equity Line of Credit (HELOC)
Home Equity Loan
A HELOC is a line of credit that is secured by your home, giving you a revolving credit line to use at your will. It can be used for large purchases such as renovations, tuition, or emergency expenses.
Similar to a cash-out refinance, a home equity loan will provide you with a lump sum of cash; as much as 95% of your home’s equity. It acts as a 2nd mortgage, where a cash-out refinance transforms your first mortgage into a completely new mortgage.
This is detail is for informational purposes only. All guidelines are subject to change. All lenders have additional guidelines and criteria that must be met to qualify. All loans are subject to underwriting approval Please contact a Northeast Financial Loan officer to discuss your options and to determine your eligibility for this program.