Home Equity Line of Credit (HELOC)
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ecause a home is often our most valuable asset, many home-owners use a Home Equity Line Of Credit for major items, such as education, home improvements, or investment. A HELOC mortgage allows you to access up to 80% of the equity in your home for what you need accomplish.
| Current Mortgage | HELOC Mortgage |
| Home Worth $350,000 | Home Worth $350,000 |
| Current Interest Rate 5.0% | Current Interest Rate 3.00% |
| Current Payment $1,500 | Current Payment $1,050 |
| $200,000 Mortgage | $280,000 Mortgage |
| $25,000 Car Payment $500/month | $25,000 Car Payment Paid |
| $25,000 Credit Cards $750/month | $25,000 Credit Cards Paid |
| $200,000 Mortgage $1,500/month | $250,000 Mortgage $1,189/month |
| Total $2,750/month | Total $1,050/month |
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You Save $1,700/month!!!
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