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Julie Jenkins
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Home Equity Line of Credit

Updated Thursday, August 9, 2012
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Changes are coming to Home Equity Line of Credit (HELOC ) products. 

For qualified borrowers, HELOCs have a variety of uses, including:

 

  • Investment borrowing 
  • Borrowing for education
  • Rental property investment
  • Value-adding home improvements
  • One-time debt consolidation
  • An alternative to higher-rate loans
  • A down payment source for a second property
  • An emergency backup fund

 

HELOCs can also be used for personal consumption, purchases like TV's, furniture or other personal items. 

HELOC's are federally regulated and will soon be limited to 65% of your home's equity. (down from 80%) Banks must comply with this new guideline by the end of their fiscal year, which in most cases is October 31st but many banks will be implementing these changes early.

If you have any questions about these products speak to your financial planner or your bank. These financial professionals can help you determine if a HELOC is a good fit for you.

 

Julie Jenkins

Sales Representative

EXIT Realty Twin Bridges Brokerage

Office: 519-336-3948

julie@336exit.com

www.EXITwithJulie.com 

 

 

 

 


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Julie Jenkins

Julie Jenkins

519-328-4963