Learn
Pre-Qualify
Calculator
Loan Options
About Us
- Meet Our Team
- Second Look
Blog
Contact Us
Apply Online
Get A Quote

Open mobile menuClose mobile menu

HELOC

Auto Added by WPeMatico

Home » Blog » HELOC

What Is a HELOC and How Does It Work?

A Home Equity Line of Credit (HELOC) is a popular financing option that allows homeowners…

HELOC

What Is a HELOC and How Does It Work?

A Home Equity Line of Credit (HELOC) is a popular financing option that allows homeowners to tap into their home’s equity to access funds for various purposes. If you’ve ever asked, “How does a HELOC work? think of it like…

Alla Grigoryan

November 22, 2024

Step 1 of 20

What are your goals?
We are committed to helping you reach them.
Purchase or Refinance
- I want to purchase
- I want to refinance

Where are you looking to buy? City or Zip Code
City or Zip Code*

What type of home is it?
- Single Family
- Townhouse
- Condominium
- Multi-Family

Where are you in the home buying process?
- Signed a purchase contract
- Found a home
- Looking to buy within one month
- Looking to buy in 1 to 3 months
- Looking to buy in more than 3 months

How do you plan to use your new home?
- Primary Residence
- Vacation Property
- Investment Property

Have you or your spouse served in the US military?
Veterans and active US military may be eligible for a $0 down VA loan when purchasing a home.
- Yes
- No

What is your (or your spouse's) branch of military service?
- Army
- Marine Corps
- Navy
- Air Force
- Coast Guard
- National Guard
- Military Spouse
- Other VA Eligibility
- No Military Experience

Are you actively working with a real estate agent?
- Yes
- No

Is this your first time purchasing a home?
- Yes
- No

What is the approximate purchase price of the new property?
(it's OK to estimate)
What is the estimated value of your property?
Use the slider to select the price range of homes you're interested in (it's OK to estimate)

How much do you have for a down payment?
(it's OK to estimate)
What is the balance of your first mortgage?
(It's OK to estimate)

What is the interest rate of your first mortgage?
(It's OK to estimate)

Do you have a second mortgage?
- Yes
- No

How much additional cash do you wish to borrow?
(It's OK to estimate or if no cash-out leave at $0)

What is your current employment status?
- Employed
- Self-Employed/1099 Independent Contractor
- Retired

What is your household gross (before taxes) annual income?
- Less than $30,000
- $30,000 - $50,000
- $50,000 - $75,000
- $75,000 - $100,000
- Greater than $100,000

What is your credit score?
- Excellent 740+
- Good 700-739
- Average 660-699
- Fair 600-659
- Poor < 600

Have you had a bankruptcy or foreclosure in the past 3 years?
- Yes
- No

What is your first name?*
What is your last name?*

What is your email address?*
What is your phone number?*
Consent
I agree to the Communications Policy.
We may communicate with you in a variety of different ways including by email, voicemail, mail, text and SMS messaging, and in person. Some communications occur through multiple channels. Such communications are confidential and only intended for you or persons authorized to act on your behalf. By using the Service, you acknowledge the following communications-related practices. By providing a telephone number and submitting the form you are consenting to be contacted by SMS text message (our message frequency may vary). Message & data rates apply. Reply STOP to unsubscribe from further messaging. Reply HELP for more information. See our Privacy Policy

Categories

Buying a Home (11)
Closing (3)
Credit (6)
Escrow (1)
FHA Loan (2)
First Time Home Buyer (49)
HELOC (1)
Home Improvement (7)
Home Maintenance (11)
Home Owner Tips (38)
Home Trends (16)
Insurance (1)
Investment Properties (1)
Learn (27)
Mortgage News (31)
Mortgage Refinance (1)
Mortgage Tips (30)
PMI (1)
Real Estate Tips (41)
Refinance (1)
Renovations (3)
Rent Vs Buy (6)
Second Homes (2)
USDA Loan (3)
VA Loans (4)

What are your goals? Everyone is unique, request your personalized rates and fees.

Get Started

About Us

At Grigoryans Mortgage, we’re dedicated to helping you turn your homeownership dreams into reality. With years of experience in the mortgage industry, we offer personalized solutions designed to fit your unique financial situation.

Company NMLS: 2683221

North Carolina Mortgage Broker License: 2683221
South Carolina Mortgage Broker License: 2683221

Equal Housing Opportunity

10716 Carmel Commons Blvd
Suite 120D
Charlotte, NC 28226
(980) 209-0165
Email Us Today

Translation Options

Disclosures and License Information

ADA Accessibility Statement
Communications Policy
Licensing and Disclosures
NMLS Consumer Access
Privacy Policy
Terms of Use

Resources

Learning Center
Contact Us
Apply Online
Get A Quote
Mortgage Calculator
Real Estate Agent Recommendation
Second Look

The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.