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HELOC LOANS ON THE GULF COAST


A HELOC (Home Equity Line of Credit) loan is a type of loan that allows homeowners to borrow against the equity in their home. Equity is the difference between your home’s current market value and the amount you owe on your mortgage. With a HELOC, you’re essentially using the value you’ve built up in your home as collateral to access a revolving line of credit, much like a credit card.

Key Features of a HELOC:

  1. Credit Limit: The amount you can borrow is typically based on a percentage of your home’s appraised value minus what you owe on your mortgage. For example, if your home is valued at $300,000 and you owe $150,000, the lender may allow you to borrow up to 85% of your home’s value (which would be…

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