Whether you want cash to cover expenses, or just want the security of knowing that you have access to funds should the need occur, a home equity line of credit (HELOC) is a revolving loan that allows you to tap into the value of your home whenever you need it.
The process of obtaining the line of credit is similar to obtaining a mortgage or home equity loan, although settlement costs are usually lower for a HELOC. Once the line of credit has been opened, you can borrow what you need, up to a predetermined maximum, by check or credit card. As you repay the loan, the funds are restored. The line of credit stays open for a predetermined period—usually a minimum of 10 years.
Interest rates on a HELOC are usually adjustable, and tied to the prime rate. Some offer guaranteed introductory rates for a short period of time, and some are convertible to fixed-rate loans when you draw on them. Unlike standard Adjustable Rate Mortgages, HELOCs have no adjustment caps.
We can tell you more about our home equity lines of credit.
Serving All Communities
Trident is dedicated to making home ownership a reality for all families. We offer many affordable housing options through our partnerships.Get Started
It's easy, secure and only takes a few minutes.Get Started
Our short video guide takes you step by step through the mortgage application process.Watch Now
What Our Customers are Saying
Todd Beal provided excellent advice and secured us a very competitive mortgage. This was all the more difficult given the fact that we relocated from Europe with no Social Security number or US credit history. Todd is an extremely pleasant, competent, and energetic senior mortgage professional who “simply made it happen” despite these obstacles. We experienced super-responsive professional service, real human engagement, and valuable advice.~ E. S., Overseas Relocation