A home equity line of credit is a revolving source of funds like a credit card. Unlike a credit card, a HELOC is linked to your home equity. You can access the equity in your home whenever you need and pay off your balance over time. In some cases, having access to an open line of credit can be more useful than taking out a lump sum of cash.
CMG Home Loans Has Been Chosen As The
For Speedy Closings By
Enjoy the ease of an automated loan process and access equity fast
Apply in minutes, and get up to $400,000 in as little as 3 days
HELOCDesigned to speed up payoff and significantly reduce interest costs over the life of the loan.
Home equity is the amount of home that you own. The greater your home equity, the greater your net worth and financial freedom. Many people tap into their home equity using a cash-out refinance, which allows homeowners to exchange home equity for cash. However, this is only a one-time withdrawal. Other loan programs, like a Home Equity Line of Credit (HELOC), offer a continual line of credit that you can use whenever you need.
Low Cost
HELOCs typically have much lower rates than personal loans or credit cards.
Flexible Use
Since HELOCs are a revolving line of credit, you can use their funds whenever you need or want.
Fast Access
Apply in minutes, get access to cash in just a few days.
Easy Apply
Most can apply from the palm of their hand on their mobile phone or device.
Debt Consolidation
Tap into your equity to pay off higher-interest debt like credit card bills or personal loans.
Home Improvements
Whether they’re wants or needs, home improvements are a typical part of homeownership.
Medical Bills
Things happen. Medical bills can pile up FAST and sometimes can be tens of thousands of dollars.
Tuition
Student loans can take a while to pay off, but a HELOC is a good alternative.
