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At American Pacific Mortgage we’ve helped thousands of people achieve their dream of having extra cashflow by leveraging HELOC Loans.
A HELOC could mean…
Don’t wait and lose your opportunity to access the equity in your house! Convert your equity into liquid cash. Current mortgage rates are high so lets keep your low rate in place and help you get the cash you’ve earned.
Whether you have investment properties or a single family home, you have a unique opportunity to access thousands of dollars from your home. We’ve been doing home loans for years and have helped people in all industries use their equity to invest in their businesses and lifestyles.
When you apply for a HELOC (Home Equity Line Of Credit), no one is touching your current mortgage! A HELOC is a 2nd Load with its own terms.
For the first 10 years you only pay interest on the money that you use!
Unlike home equity loans with which you borrow a lump sum, HELOCs allow you to borrow in lesser amounts so that you’re only borrowing what you need when you need it. Borrowing only what you need can keep your monthly payments lower and help avoid unnecessary debt!
HELOCs often provide flexibility in terms of how you pay them off. The timeline for your HELOC can vary depending on how much you want to borrow and the lender you go with, but HELOCs can last for up to 30 years. You’ll typically have to make only interest payments during the draw period, or the initial 10 years, but you have the option to make principal payments as well to lower the balance remaining when you enter the repayment period.
While mortgage interest rates overall have risen this year, HELOCs still tend to have lower interest rates and lower initial costs than credit cards, which makes them attractive for debt consolidation or ongoing projects
Does this affect my original Mortgage?
This is a 2nd Mortgage in addition to your original mortgage. THIS WILL NOT AFFECT YOUR FIRST MORTGAGE
Can I open a HELOC and not use it?
Yes, you can open a HELOC and not use. You can use a HELOC as a financial security blanket so you’re always ready for whatever life throws at you. Even if you open a HELOC and never use it, you won’t have to pay anything back.
Do I have to pay any interest on what I don’t use
No, Interest is only paid on money drawn out of the Line Of Credit
Can I withdraw cash from a HELOC?
Home equity line of credit (HELOC) lets you withdraw from your available line of credit as needed during your draw period, typically 10 years.
Are there restrictions on what you can use a HELOC for?
A HELOC can be used for anything you want. However, it’s best-suited for long-term, ongoing expenses like home renovations, medical bills or even college tuition.
Is it smart to take out HELOC?
A HELOC is an excellent source of money to pay for renovations that are tackled in stages over time. It’s suitable for long-running home projects because it allows you to borrow money as you need it and to pay interest only on money that has been spent.
You can find more info at:
Mortgage Loan Officer/ Branch Manager
NMLS: 1501920 I NMLS: 1421 | APM: 1850
Equal Housing Opportunity
AZ BK 0906702
Licensed by the Dept of Financial Protection and Innovation under the CRMLA
Georgia Residential Mortgage Licensee
Licensed in AZ, CA, GA, TN, TX, WA
All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN 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 DOWNLOADED AND PRINTED 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 MORTGAGE BANKER 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 DEPARTMENTS WEB SITE AT WWW.SML.TEXAS.GOV.
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