Home Equity Line of Credit
Home equity can be a valuable financial resource when you need access to funds as a homeowner, or if you need assistance with a down payment as a home buyer. The Arkell Barnes Mortgage Team offers a simultaneous second mortgage program home equity line of credit, or HELOC, to consider as a financing option that may help you reach your homeownership goals.
Features of the HELOC:
- Loan amounts as low as $7,500 and up to $350,000.
- Interest only payments for first 10 years.
- May be a tax benefit. Consult your tax advisor.
- Use credit any time or all at once.
Homeowner Refinance Benefits:
- Make home improvements with renovations, repairs or maintenance.
- Manage or consolidate debt.
- Access funds for a major purchase or unexpected expense.
Home Buyer Purchase Benefits:
- Combine the 1st mortgage loan with a HELOC to avoid monthly mortgage insurance payments.
- Access funds again after the HELOC principal balance is paid down.
Consider a HELOC to access funds now or in the future.
The Arkell Barnes Mortgage Team is a responsible lender and cares about our clients’ long-term financial well being. Carefully consider each of your home financing options to determine the home loan that is right for you.
Home Equity Lines of Credit (HELOC) provided by 3rd party. Available for 1-2 unit primary residences and owner-occupied second homes. Combined 1st and 2nd mortgage loan amounts up to $1,500,000. Annual maintenance fee of $75.00 is required. Product is not available in Georgia or West Virginia.