Title, Inc., Title Companies & Agents, Hunt Valley, MD

Tuesday, October 23, 2018

HELOC or Home Equity Line of Credit

A home equity line of credit (often called HELOC and pronounced Hee-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house (akin to a second mortgage). Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses.

Who's Online

We have 2 guests and no members online

Questions?

       Have a question? . . . . We are here to help.

       Note: Any time during the mortgage process, don't hesitate to call us and discuss any and all concerns or questions you may have..

      Call Us 800.660.9025