Quickly Access your Home Equity
Want to turn your home equity into a lump sum or line of credit? A home equity loan or HELOC with MiLEND lets you borrow against it at a lower rate than other types of loans. Faster than a Bank. Cheaper than Credit Cards.
Flexible Access to Equity as Cash
Simple, flexible access to your home’s equity as cash to use as you see fit. A Home Equity Loan or HELOC is suitable for quick access to equity for a variety of uses:
Home Renovations
One of the most common uses for a HELOC is to fund home renovations, improvements, or make repairs. Investing your equity back into your home can improve your home’s value for many years to come.
Debt Consolidation
Personal Loans, Auto Loans, and Credit Cards often carry much higher interest rates than a HELOC – with most credit cards carrying an interest rate of 24% or more. A HELOC let’s you take out cash to pay off debt and pay much lower interest, slashing monthly expenses dramatically.
Unexpected Expenses
Having a HELOC available can serve as a financial safety net for unforeseen costs like significant medical bills or major home repairs. You only pay interest on the amount you draw, making it a flexible option to access cash to cover these expenses at a low interest rate.
What is a HELOC?
A Home Equity Loan, or Home Equity Line of Credit (HELOC), is second mortgage that allows you to take out a line of credit on your home’s equity. It can be a great option to access the equity you’ve built in your home as cash without refinancing your existing mortgage.
Reasons for using your equity
Two of the most popular reasons for accessing your home’s equity as cash are to pay for home renovations and to pay off high-interest debts such as credit card debt. The amount of cash you can access in your equity will depend on your credit score and your debt-to-income ratio in addition to other loan guidelines.
Accessing your Equity is Easy
Step 1 Choose your Options
Answer a few questions to help us get to know your needs, so we can find the loan options that are a perfect fit for you.
Step 2 Get Paired with an Expert
Your licensed HELOC expert will draw upon years of mortgage experience and collaboration with other loan experts to put together the best loan options for you based on your unique needs and financial goals.
Step 3 Lock in Your Low Rate
Your Loan Officer will lock in your low rate, submit your home equity application, and walk you through any additional steps to make sure your loan is funded quickly.
Renovations that Build Your Home’s Value
Learn which home renovations give you the biggest return on investment.
Home Equity Loan vs. HELOC
Read more about the differences between a HELOC and a Home Equity Loan.
Questions about home equity loans near you? Contact Milend, your local mortgage lender at 855-645-3631.