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The Benefits of a Home Equity Loan

HELOC or Home Equity Line Of Credit works exactly like a credit card, when you use it

you pay interest, but much more cheaper than credit cards, for example the day credit

cards interest rate is 18-20% HELOC interest rate starts 3-5%

HELOC is very popular in today’s market, Mortgage rates are too high probably will be

reached to 8% soon, If you need money and trying to refinance your house and you

have your first loan with low interest rate STOP refinancing, you will lose your low

interest and your payment will be much higher, then try to get HELOC

This way you can keep your low interest rate first mortgage, and when interest rates

goes down again you probably refinance whole thing to one loan. Or if you are

financially better suggestion is to pay off your HELOC to keep your first mortgage rate


Please check or call us at Citywide Group for any questions you

may have. We are here to help.

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