If you’ve owned your home for a few years, chances are you’ve built up some equity. That’s just a fancy way of saying your home is worth more than what you owe on your mortgage.

Many homeowners don’t realize they can actually use that equity to their advantage. One way to do this is with something called a Home Equity Line of Credit (HELOC).

So, what’s a HELOC?

A HELOC is a revolving line of credit, kind of like a credit card. The difference is that instead of being unsecured like a credit card, your HELOC is secured by your home. That means the bank places a lien on your property as collateral.

A HELOC gives you a set limit and allows you borrow as you need it. Use a little, pay it back, use more later; it gives you the flexibility to borrow what you need, when you need it.

Why Florida Homeowners ❤️ HELOCs

Home Improvements – whether it’s remodeling, additions, or upgrading features, many homeowners use a HELOC as a resource to invest back into their home

Debt Consolidation – some homeowners use a HELOC to pay off higher-interest credit cards or personal loans, combining them into one payment that may come with a lower interest rate.

Hurricane Preparedness – living in the heart of Central Florida, we know the importance of planning ahead. A HELOC gives you the flexibility to cover the costs of getting your home ready for whatever storm season may bring.

HELOC 🤝 You

Some HELOC products require a minimum draw at closing, but you’ll still have the flexibility to borrow more funds whenever you need them.

Of course, the amount available, the interest rate, and the terms will vary based on your situation.

👉 Click the button below to get connected with a Florida Mortgage Firm loan officer who can walk you through your options and help you decide if a HELOC is the right fit.