Definition of Home-Equity Line of Credit (HELOC):

Orange County HELOC:

A Home-Equity Line of Credit (HELOC) is by definition an adjustable rate mortgage and it allows a home-owner to borrow money for any purpose (legal), using the equity the home as collateral for the loan. HELOCs  can take the form of a second or even a third mortgage, with the borrower withdrawing and repaying funds on a more flexible schedule – most lenders give the borrower the option of making an interest only payment and as the case with most mortgages the IRS allows a tax deduction for interest payments. Many times lenders make a HELOC to a borrower without a full appraisal using an AVM instead, and using a limited title instead of a full Orange County ALTA policy, saving the client money.


Home | A| B| C| D| E| F| G| H| I| J| K| L| M| N| O| P| Q| R| S| T| U| V| W| X| Y| Z