Lisa Lund at Lund Mortgage Team Can Help Homeowners Find the Right Loan They Need
Glendale, United States - November 14, 2023 / Lund Mortgage Team /
Many homeowners can benefit from a HELOC! You can borrow against the equity you have built up in the home. You can use HELOC for home renovations and debt consolidation and cover any unexpected expenses.
Lisa Lund at Lund Mortgage Team delivers top-notch loans to help homeowners. A HELOC can deliver you with a flexible source of funds, unlike traditional loans. You don’t need to receive a sum of money upfront because you can have access to funds as needed.
This can be valuable if you have ongoing expenses such as home renovations. HELOC can allow you to borrow money on a line of credit as needed, and you only have to pay interest on the amount you have borrowed. Visit Lisa Lund at Lund Mortgage Team for more information!
What You Should Know About HELOC in Glendale, AZ
A HELOC in Glendale, AZ, is a Home Equity Line of Credit, a financial product that authorizes homeowners to borrow money against the equity of what they have built up. HELOC is a revolving credit equivalent to a credit card. You, as the borrower, can access funds as needed, and the key difference between a HELOC and a traditional loan is that with a HELOC, you can choose when and how much money to borrow. You will only pay interest on the amount you have borrowed.
HELOCs are secured by the borrower’s home, which means if the borrower fails to pay back the loan, the lender has the right to foreclose the property. The amount of credit available through the HELOC is determined by the appraised value of the property. Any outstanding mortgage will be subtracted from it, and the interest rates on HELOCs are variable. Since they are variable, they can fluctuate over time due to the market conditions.
Due to the variable and allowing it to fluctuate over time, it may be an advantage and a disadvantage. This will enable borrowers to take advantage of lower interest rates. This can also mean your monthly payments may increase if the rates rise. HELOC can be a valuable financial tool for many homeowners who need access to funds for various reasons. This can include home renovations, unexpected expenses, or debt consolidation.
HELOC offers flexibility and convenience since the borrowers can access funds when needed. You don’t have to go through the application process every time, and it’s important to consider your financial situation carefully. Before you consider HELOC, make sure you can repay the loan so you don’t encounter a foreclosure of your home.
Renovating Your Home? Lisa Lund Can Help!
If you are renovating your home and need help with financial assistance, a HELOC can be an excellent option. A HELOC is a flexible loan that provides many homeowners a line of credit that can be used. The funds can be used to pay for your home’s renovation expenses.
HELOC is a popular choice for homeowners seeking financial help for their home renovation projects. Whether you need a 30-year fixed mortgage, 15-year fixed rate mortgage, adjustable rate mortgages, FHA loans in Glendale, AZ, VA loans, jumbo loans, and more, Lund Mortgage is happy to offer various financing options!
Contact Information:
Lund Mortgage Team
7170 W Camino San Xavier a104
Glendale, AZ 85308
United States
Contact Lund Mortgage Team
(623) 270-6340
http://www.lundmortgage.com/
