HELOC
Equity Line Costs
pes of Equity Loans
Home Equity Line Glossary
 
Did you know...
A HELOC (Home Equity Line of Credit) gives you more flexibility than a fixed-rate home equity loan. It also is possible to remain in debt with a home equity loan, paying only interest and not paying down principal.

A line of credit has a variable interest rate that fluctuates over the life of the loan. Payments vary depending on the interest rate, the amount owed, and whether the credit line is in the draw period or the repayment period.


Home Equity Line of Credit Costs
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Origination fee
A fee imposed by a lender to cover certain processing expenses in connection with making a real estate loan. Usually a percentage of the amount loaned, such as one percent.

Owner financing
A property purchase transaction in which the property seller provides all or part of the financing.

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