Home Equity Line of Credit
A home equity line of credit is a revolving source of cash that you can draw from as needed. You can finance ongoing expenses or miscellaneous purchases, like you would use a credit card.
Since it is a debt against your own property, which you are in actual possession of, a home equity line fo credit is a secured lien on your property. The property can be required to be sold if the creditor finds that you are in default on the line of credit payments.
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Already have a HELOC? Consider refinancing your existing HELOC with MetLife Bank to take advantage of our competitive rates.
Tax benefits of home equity line of creditA home equity loan is also beneficial because the interest rate charged is usually tax deductible, as the loan is used for its primary functions. Please confirm thsi with your tax advisor.
More information on home equity loans
If you would like more information on home equity loan rates, and how to find the best home equity loan, please fill out the form above! Home equity loan specialists will get in touch with you to consider your options and see how a home equity loan can help you make the most of what you have.
There are several choices available for homeowners to free up the equity they possess in their homes. When you give us the information on the form, you will be reaping the benefits of a secure financial future.
Alternate methods: Due to credit tightening in the mortgage market, you may be elgible to get a line of credit or second mortgage through a lender, but a line of credit is available through American Express.