Home Equity Line of Credit
With HELOC, your home’s equity acts as collateral to help you get a supply of credit. You can decide about how much credit you may need, when do you need, and then repay it at a flexible schedule. There is no penalty to pay off your outstanding balance. Once approved, a line of credit can be accessed at any time, and for any amount up to your limit. With a loan, you may need to re-apply every time you require more funds. HELOCs have low-interest rates making them less costly than credit cards and personal loans. Crown Funding has access to more than 30 significant lenders who offer a diverse range of home equity products for your all kinds of mortgage needs.
What Is A Home Equity Loan?
What Are The Benefits Of A Home Equity Loan?
Home equity loans are an excellent option for homeowners with bad credit or low income, or in many cases, self-employed people and report their income differently than those who are salaried. Borrowers can use the loan sum for many different reasons, such as consolidating debt, funding home renovations, paying for a child’s tuition, or financing other purchases or bill payments. For many borrowers, their home equity can be the biggest asset they have and their best way to secure a larger loan.
Lowest Interest Rates and Great Terms
We search for the lender with the lowest interest rates and the terms that best suit you. We also go for a lender with the least fees. The most common HELOC fees are appraisal fees, title search and title insurance fees, and legal fees. Lenders are usually flexible, and our team’s negotiation skills will guarantee you the best possible deal over the past years.
Did you know you can pay off your mortgage using a HELOC? You can replace your mortgage loan with your HELOC since HELOC interest rates are lower than those of a mortgage. Some lenders transfer mortgages into HELOCs, but you will have to pay the penalty if you pay off your mortgage early. We will do the math to determine if you will save by replacing the mortgage with a HELOC.
