Home Equity Line of Credit (HELOC)

There are many reasons one might choose to refinance their home through a HELOC. We, at Kiel Mortgage can help you explore this option and provide information for you to consider.

Imagine finding an extra twenty dollars in your pocket every day! You can save hundreds of dollars every month by consolidating those high-interest credit card balances, car loans, and other costly debts into a new low-interest home loan with one monthly payment.

Did you know that if you make the minimum monthly payment on a credit card with a $6,000 balance, it could take 52 YEARS to pay it off?

At Kiel Mortgage we want to ensure that you understand the benefits and costs of this type of mortgage. We will take the time to sit down with you, in order to understand your situation and explain how we can find the right program to fit your needs.

Loan Programs for HELOC:

Home Equity Line of Credit (HELOC)

This is a line of credit that will allow you to access the equity in your home. This program offers a lot of flexibility. These lines typically have lower minimum payments than a standard fixed rate loan. The line can be used as needed and can be paid off at any time. You can draw on your line of credit from time to time, up to a total amount available. The monthly payment is based upon the amount of line of credit that has been used. This provides a lot of flexibility and control over your money.