Your home is more than a place—it’s equity waiting to be tapped. With a HELOC (Home Equity Line of Credit) from Lowcostmortgage, you can access that value when you need it most. Unlike a traditional loan, you only pay interest on what you use, giving you flexibility and financial control.
Need to fund remodeling, debt consolidation, education, or unexpected expenses? A HELOC gives you the power to borrow wisely and recoup value, all while keeping your home as the foundation of your financial strength.
You want flexibility and access to funds over time
You anticipate variable expenses or want a financial safety net
You have equity built in your home
You seek lower-cost alternatives to credit cards or unsecured loans
It may be less ideal if:
You plan to move soon
You’re uncomfortable using your home as collateral
You can qualify for a lower-cost, fixed-rate loan and prefer certainty
Ans: A home equity loan gives you one lump sum, while a HELOC works like a revolving credit line you can borrow, repay, and borrow again during the draw period.
Ans: A home equity loan gives you one lump sum, while a HELOC works like a revolving credit line—you can borrow, repay, and borrow again during the draw period.
Ans: Almost anything: home improvements, education, medical bills, debt consolidation, or even as an emergency fund.
Ans: Most HELOCs have variable interest rates, though some lenders offer fixed-rate options. Lowcostmortgage provides clear terms so you know what to expect.
Ans: After the draw period (usually 5–10 years), you enter the repayment phase, where you pay back principal plus interest on the outstanding balance.
Ans: Typically, you can borrow up to 80–85% of your home’s value minus your remaining mortgage balance.
