Home Equity Loans & Lines of Credit | HELOC | UWCU.org – Rates are for fixed home equity loan segments and new combined home equity line requests. rates shown are for homeowners with 70% loan-to-value. Refinancing of existing UW Credit Union HELOCs does not qualify for the closing costs offer. existing heloc limits must be increased by $5,000 or greater to receive the intro rate promotion.
What Is a HELOC? – from The Mortgage Professor – HELOC stands for home equity line of credit, or simply "home equity line." It is a loan set up as a line of credit for some maximum draw, rather than for a fixed dollar amount.
What a home equity loan is, and how you can make it work for you – Home equity loans are a type of second mortgage that let you use your home’s value as collateral to pull out cash. Home equity is the difference between how much a home is worth and any debts against.