For homeowners
A line of credit secured by your home.
A home equity line of credit is a revolving line secured by your home. You draw from it as needed rather than receiving a single lump sum.
How a HELOC differs from a home equity loan
A HELOC is revolving: you draw what you need, when you need it. A home equity loan is taken as one amount at closing. The supplied product information states a $25,000 minimum for both.
Common reasons homeowners consider one
Staged projects, ongoing expenses and situations where the total amount needed is not known at the outset are all reasons a line can suit better than a lump sum.
Terms, availability and qualification depend upon individual circumstances and applicable lending guidelines.
Program availability, terms and qualification depend on individual circumstances and are subject to applicable underwriting and program requirements. Speak with Keon to determine which programs may be available to you.
Next step
Your financial situation is unique. Your mortgage strategy should be too.
Talk with Keon about what you're trying to accomplish and explore the mortgage options that may fit your situation.