HELOC
Turn your home’s equity into cash—flexible, affordable, and ready when you need it.
What is a HELOC
A Home Equity Line of Credit (HELOC) is a flexible way to borrow money using your home's equity. Unlike a traditional loan that provides a lump sum, a HELOC works as a revolving line of credit, allowing you to borrow, repay, and borrow again—similar to a credit card, but with lower interest rates.
With a HELOC, you can access funds as needed during the draw period, typically 5-10 years, and make interest-only payments during that time. After the draw period, the repayment phase begins, where you’ll pay back the principal and interest over time.
HELOCs offer financial flexibility, making them ideal for home improvements, debt consolidation, major purchases, or unexpected expenses—all while keeping your monthly payments manageable.
Why Choose a HELOC?
✔ Flexible Borrowing – Access funds as needed, up to your approved limit.
✔ Lower Interest Rates – Compared to credit cards and personal loans.
✔ Only Pay for What You Use – Interest applies only to the amount borrowed.
✔ Use for Any Purpose – Home improvements, tuition, medical expenses, and more.
Ana Morales; Founder of Anova Mortgage
Is a HELOC Right for You?
A HELOC is a great option if:
✔ You need a financial safety net for unexpected expenses.
✔ You have a high-interest loan that you can consolidate with a lower HELOC rate.
✔ You want the flexibility to use funds for anything—from home projects to tuition.
✔ You’re looking for a way to invest or fund ventures.
✔ You want ongoing access to funds without reapplying for a loan.
✔ You prefer to borrow only what you need, when you need it.
✔ You’re looking for a revolving credit line secured by your home’s equity.
✔ You want the option to pay only interest during the draw period.
Ana Morales; Founder of Anova Mortgage