HELOC

Flexible Credit Line Based on Home Equity

A Home Equity Line of Credit (HELOC) allows homeowners to access a revolving line of credit secured by their property’s equity. Borrowers can draw funds as needed for a variety of purposes, including home improvements, education, or unexpected expenses. HELOCs provide the flexibility to borrow, repay, and borrow again during the draw period, making them ideal for both planned and recurring expenses. Compared to personal loans or credit cards, HELOCs often feature lower interest rates, providing a cost-effective financing option. Borrowers can take advantage of interest-only payment options during the draw phase, keeping monthly payments manageable. Many HELOC programs also include tax benefits for funds used on qualifying home improvements, further enhancing their value. With adaptable repayment terms and access to significant funds, HELOCs empower homeowners to make the most of their property’s equity.

Understanding the Home Loan Process

We’re here to guide you every step of the way, making each phase of the home loan process clear and straightforward.

Application & Pre-Approval

We begin by submitting your application and securing pre-approval from your lender. During this step, your financials, credit history, and loan eligibility are assessed. Pre-approval determines how much you can borrow and shows sellers you’re a serious buyer ready to make an offer.

Offer Accepted

Once your offer on a home is accepted by the seller, the real work begins. This milestone means that you’ve agreed to a purchase price, and your loan process moves forward. You’ll start working with your lender to finalize your financing, as both you and the seller move toward closing.

Processing & Underwriting

Once an application is submitted, the processing team reviews your documents and information. The underwriting process involves an evaluation verifying the accuracy of your financial details and assessing the risk associated with your loan. This step may require additional documentation.

Appraisal

An appraisal is conducted by a professional appraiser to determine the current market value of the property you intend to purchase. This step ensures that the property is worth the amount of money you are borrowing and provides the lender with confidence in the collateral for the loan.

Final Approval

After the underwriting and appraisal are complete, the loan receives its final approval. At this stage, the lender ensures that all conditions have been met, and all required documentation is in order. Once this is done, the loan is ready to close, and you’re just one step away from owning your new home.

Signing & Getting Keys

In the final step, you’ll sign all the necessary documents to officially complete your home loan and transfer ownership. This includes reviewing the final loan agreement and closing paperwork. Once everything is signed and the transaction is finalized, you’ll receive the keys to your new home!

Still have questions about loans or our process?

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Other Loans That May Interest You

Conventional

A versatile mortgage loan option with flexible terms, ideal for both first-time buyers and homeowners.

Best For:

Affordability

FHA

Accessible financing with low down payments and credit score requirements.

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Low Down Payment

VA

No-down-payment mortgage benefits exclusive to veterans and service members.

Best For:

No Down Payment

Are You Ready to Start Your Journey Today?

Whether you're buying, refinancing, or exploring loan options, we're here to guide you every step of the way. Let’s find the right solution for you.

Access a revolving credit line using your home’s equity, perfect for ongoing expenses.

All loans subject to credit and property approval. Interactive calculators are self-help tools. All examples are hypothetical and are for illustrative purposes only. Rates are not guaranteed until locked, and are subject to change without notice. The information here is not legal, tax or financial planning advice; please consult an appropriate licensed professional.

TX Disclaimer: Consumers wishing to file a complaint against a banker or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

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