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Home Equity Line of Credit (HELOC)

  • Generally these loans are in second lien position.
    The majority of people will have this loan in addition to the first lien position loan. Many customers take these to have cash available when needed. They may use this to pay off credit cards, purchase a car, use the money for a college education.
  • Helocs are available as interest only loans.
  • Helocs are also available in first lien position for homes that do not have an exiting loan in first lien position. These are also available as interest only. They may also be referred to as a "Pay Option Arm."
  • Home Equity Lines are also available in fixed rates.
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