Explore Your Home Equity Options
Your Home May Offer More Financial Flexibility Than You Think
A Home Equity Line of Credit (HELOC) may allow eligible homeowners to access a portion of the equity they've built in their property. Explore how this financing option works and whether it may fit your financial goals.
Opens the approved New American Funding HELOC registration page.
What Is a HELOC?
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home. If you're eligible, it generally allows you to borrow funds up to an approved credit limit during a set draw period, repay what you use, and borrow again—similar to how a credit card works.
How Can a HELOC Be Used?
Funds from a HELOC may be used for a variety of purposes, including home improvements and renovations, debt consolidation, education expenses, major life expenses, and other eligible financial needs. How you use the funds depends on your goals and financial situation.
How Does Home Equity Work?
Home equity is the difference between your home's estimated market value and the outstanding balance(s) on your mortgage. As you pay down your mortgage and/or your home's value increases, your equity may grow. A HELOC lets eligible homeowners borrow against a portion of that equity.
What Should Homeowners Consider?
HELOCs often have variable interest rates, which means your rate and payment can change over time. Qualification depends on factors like your credit, income, and available equity. You're responsible for repaying what you borrow, and potential fees may apply. Because your home secures the line of credit, borrowing against your equity carries risk—if you can't repay, you could lose your home.
Have Questions About Home Equity?
Schedule a consultation with Ryan to discuss whether a HELOC may fit your goals.
HELOC Frequently Asked Questions
Clear, accurate answers about home equity lines of credit.
Ready to Explore Your Equity?
Find out how much equity you could access through the approved New American Funding HELOC registration page.