Home Equity Line of Credit (HELOC)
Home Equity Line of Credit Services for Buffalo, NY
WHAT IS A HOME EQUITY LINE OF CREDIT?
A home equity line of credit (HELOC) is a revolving line of credit. The lender determines the maximum amount based upon the equity of your house. When you choose this option, you are free to take out as much money from the line of credit (up to the limit of course) as needed.
While you are still required to make monthly payments on your home equity line of credit, you will ultimately only pay back what you take out plus interest.