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HELOC - Line of Credit

Tap Into Home Equity FAST

Access funds for home renovations, education expenses, or other needs with a Home Equity Line of Credit (HELOC) loan.

  • 620+ Fico
  • 90% Max Cltv
  • Terms Available: 30yr, 20yr, 15yr, 10yr
  • Full Doc
  • Max loans to $750k
  • Max Combined Loan to $3 Mil
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HOME EQUITY LINE OF CREDIT - HELOC

PRIME HELOC

Harness your home equity up to 500k with prime credit guidelines. Benefit from competitive rates, revolving credit, easy fund access, and potential tax advantages. Empower your financial freedom.
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LOAN PROGRAM DETAILS

Typical guidelines for Home Equity Line of Credit (HELOC) loans.

Docs

 Full

Credit Score

640

CLTV

   90% 

Max Loan

$3 Mil 

HELOC Loan Features

  • Revolving line of credit secured by home.
  • Fixed or variable interest rates.
  • Draw period followed by repayment period.
  • Credit limit based on value and credit.

HELOC Loan Benefits

  • Competitive interest rates
  • Bankruptcy & Foreclosure ok
  • Competitive interest rates
  • Several program options
HOME EQUITY LINE OF CREDIT LOAN PROGRAMS
Traditional HELOC
Prime
HELOC
(Alt Income Docs)

Fixed Rates

Unlock home equity. Access funds as needed. Revolving credit. Competitive rates. Flexible repayment. Financial freedom. Tax advantages. Borrow smarter with a HELOC loan.
BENEFITS
  • 640+ Fico
  • up to 90% LTV
  • Standalone & PiggyBack
  • 30yr, 15yr fixed
  • Full Doc
  • Max HELOC to $500k
  • Max Combined Loan to $3 Mil
Fast Closing
Prime
PRIME HELOC
(Alt Income Docs)

Fixed Rates

Harness your home equity with flexible borrowing. Benefit from competitive rates, revolving credit, easy fund access, and potential tax advantages. Empower your financial freedom.
BENEFITS
  • 680+ Fico
  • up to 90% LTV
  • Standalone & PiggyBack
  • 30yr, 15yr fixed
  • Full Doc
  • Max HELOC to $750k
  • Max Combined Loan to $3 Mil
Access Large Amount
Prime
JUMBO HELOC
(Full & Alt Income Docs)

Fixed Rates

Access substantial home equity. Ideal for high-value properties. Flexible borrowing, competitive rates, and financial power to achieve your dreams. Unlock your home’s full potential.
BENEFITS
  • 680+ Fico
  • up to 90% LTV
  • Standalone & Piggyback
  • 30yr, 20, 15yr fixed
  • Full Doc – Bank Statements
  • Max HELOC to 1 Mil
  • Max Combined Loan to $5 Mil

Mortgage Calculator

Fast and Flexible Home Equity Lines of Credit (HELOC)

Introduction

In the world of homeownership, having access to quick and flexible financing options can make all the difference. If you’re looking to tap into the equity of your home, Bridgeview Mortgage, Inc. is here to provide you with efficient and hassle-free Home Equity Lines of Credit (HELOC).

With our streamlined process, we can process your HELOC application in 10 days or less, allowing you to unlock the financial potential of your property without delays. In this article, we will explore the benefits of choosing Bridgeview Mortgage, Inc. for your HELOC needs.

What is a HELOC?

A Home Equity Line of Credit (HELOC) is a type of loan that allows homeowners to borrow against the equity they have built in their property. It operates like a revolving line of credit, similar to a credit card, where borrowers can withdraw funds up to a predetermined limit and repay as needed.

The collateral for the loan is the borrower’s home, making HELOCs a secured form of financing.

Pros and Cons of HELOCs

Pros:

  • Flexibility: HELOCs offer borrowers the flexibility to borrow and repay funds as needed within the predetermined limit.
  • Lower interest rates: HELOCs often have lower interest rates compared to credit cards and other unsecured loans.
  • Tax benefits: In some cases, the interest paid on a HELOC may be tax-deductible. However, it’s recommended to consult a tax advisor for specific details.
  • Access to large funds: With lines of credit up to $2,000,000 offered by Bridgeview Mortgage, Inc., homeowners can access significant funds for various purposes such as home renovations, education expenses, or debt consolidation.

Cons:

  • Risk of losing your home: Defaulting on HELOC payments can result in foreclosure, as the home serves as collateral for the loan.
  • Variable interest rates: HELOCs often have variable interest rates, meaning the monthly payments can fluctuate with changes in the market.
  • Requires discipline: Borrowers must be responsible and disciplined with their spending and repayment habits to avoid accumulating excessive debt.

Unlock the Potential of Your Home Equity 

At Bridgeview Mortgage, Inc., we understand the importance of efficient and reliable financing options. Our streamlined process ensures that your HELOC application is processed in 10 days or less, allowing you to quickly access the funds you need.

With lines of credit up to $2,000,000 and fully documented files, we provide the flexibility and transparency you deserve.

Contact us today to unlock the financial potential of your property and explore the possibilities.

 
FAQS

What is a Home Equity Line of Credit (HELOC)?

A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by the equity in a homeowner’s property. It allows homeowners to borrow against the value of their home for various purposes, such as home improvements, debt consolidation, or other financial needs.

How does a HELOC differ from a traditional home equity loan?

A HELOC differs from a traditional home equity loan in that it functions as a revolving line of credit, similar to a credit card, rather than a lump sum loan. Borrowers can access funds as needed up to a predetermined credit limit and only pay interest on the amount borrowed.

What are the benefits of a HELOC?

HELOCs offer several benefits, including flexibility in accessing funds, potential tax advantages (consult a tax advisor for details), lower interest rates compared to some other forms of credit, and the ability to use funds for various purposes.

Who is eligible for a HELOC?

Eligibility for a HELOC is typically based on factors such as the homeowner’s credit score, income, debt-to-income ratio, and the amount of equity in the property. Homeowners with significant equity in their homes and a strong credit history are often best suited for HELOCs.

What types of properties are eligible for a HELOC?

HELOCs can be used for primary residences, second homes, and investment properties, provided the homeowner has sufficient equity in the property and meets the lender’s eligibility criteria.

How much funding can homeowners receive through a HELOC?

The amount of funding available through a HELOC is determined by the amount of equity in the property and the lender’s loan-to-value (LTV) ratio requirements. Typically, homeowners can borrow up to a certain percentage of their home’s appraised value minus any outstanding mortgage balance.

What is the typical term for a HELOC?

The typical term for a HELOC consists of two phases: the draw period and the repayment period. During the draw period, which typically lasts 5 to 10 years, borrowers can access funds and make interest-only payments. The repayment period, usually 10 to 20 years, allows borrowers to repay the outstanding balance.

How do I apply for a HELOC?

To apply for a HELOC, homeowners should contact lenders or financial institutions offering HELOCs to discuss their borrowing needs and eligibility requirements. The application process typically involves completing an application, providing documentation such as proof of income, property valuation, and undergoing a credit check.

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  • Answer a few questions
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