A Home Equity Line of Credit (HELOC) gives you flexible access to your home's equity. Borrow, repay, and reborrow as your needs change.
HELOCs offer unmatched flexibility for borrowers who need ongoing access to capital.
Borrow only the amount you need when you need it. Interest is charged only on amounts you've drawn.
Access funds multiple times during the draw period. Use it like a credit card, but with lower interest rates.
HELOCs typically have lower rates than credit cards or personal loans because they're secured by your home.
Access your credit line by writing checks, using a debit card, or making transfers. You make interest-only or interest plus principal payments.
After the draw period ends, you can no longer access new funds. You pay down your balance through regular principal and interest payments.
Most HELOCs have variable interest rates that adjust based on market conditions. Some offer fixed-rate options for portions of the balance.
Fund renovations, repairs, or expansions over time as projects progress. Draw only what you need for each phase.
Use your home's equity to fund a business startup or expansion. Access funds as business opportunities emerge.
Pay for college tuition and expenses as they're incurred, drawing what you need each semester or year.
Keep a HELOC open as a safety net for major unexpected expenses without touching it unless needed.
Consolidate multiple debts into one payment with a lower interest rate, then maintain access for future needs.
Have flexible access to funds for periodic maintenance and improvements as your rental properties age.
A HELOC is a revolving credit line—you can draw and repay multiple times. A home equity loan is a lump sum you receive upfront. HELOCs offer flexibility; home equity loans offer simplicity and predictable payments.
Most HELOCs have variable rates that change with market conditions, usually based on the Prime Rate. Some lenders offer options to convert portions to fixed rates. We'll explain the rate structure for your HELOC.
Yes. TRI-GLOBAL EQUITIES works with borrowers with credit challenges. If you have significant home equity, we can often find a solution. Contact us to discuss your specific situation.
When the draw period ends (typically after 5-10 years), you can no longer access new funds. You'll transition to the repayment period and begin paying principal and interest to pay off any balance.
Perfect! With a HELOC, you only pay interest on what you've drawn. If you don't use the full amount, you pay nothing on the unused portion. This makes HELOCs ideal for building a financial safety net.
Get a HELOC that works on your terms. Start your application today and access your home's equity when you need it.
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