Contact Us   Home    
$300,000 Loan for as Low as $800/month
No Background Check or Obligations
Mortgage Rates Starting at 2.75%
   
     
Home Equity Line of Credit Facts
 
What is a home equity line of credit?
Benefits of a home equity line of credit
How does a home equity line of credit work?
Applying for a home equity line of credit
 
 
   

 

What is a home equity line of credit?
A home equity line of credit (HELOC) is a type of second mortgage . The way a HELOC works is very similar to the way a credit card works. Your home equity is used as the collateral for the loan and you receive a line of credit from which you can draw money.

Using your home equity line of credit for home improvements, consolidating your high-interest debts, or keeping a "rainy day" fund, is a better financial alternative than using your credit cards. Here are the top 4 home equity line of credit benefits:

A home equity line of credit has several unique characteristics. Here is a quick overview:

Applying for a home equity line of credit
Here's how Quickerlend home equity line of credit application process works:

  • First, we ask for some basic information about you, your income and the property. Your Social Security number is necessary to pull a copy of your credit report. There's generally less paperwork involved, so closing on a home equity line of credit is quicker than a standard first mortgage.


  • We can approve you right over the phone, schedule your closing online, and close your home equity line of credit in as little as 7-10 days.


  • Closing fees are generally required; however, Quickerlend has eliminated most closing fees. In order to close your loan, you will likely have to pay local city, county and state recording fees and taxes. Depending on the state you live in, you may also be charged attorney fees. These closing fees can either be deducted from your line of credit or you can bring a cashier's check to pay for them at closing.

 
Follow Us
Home
Contact Us
Privacy Policy
©2010-2015 Quickerlend.com. All Rights Reserved.