HELOC (Home Equity Line of Credit)

A HELOC is a revolving line of credit secured by a home, letting the borrower draw funds as needed and pay interest only on the amount used.

In Texas, a HELOC on a homestead is governed by the same Section 50(a)(6) rules as a cash-out refinance.

Rick Carrier, NMLS #268110, The Carrier Mortgage Team, Innovative Mortgage Services, Inc. (Company NMLS #250769). Call (281) 767-6700.