Do you want to receive your money in one payment - or would it be better to use the money gradually over time?

With a home equity loan, you get a lump sum of money dispersed at closing. With a Home Equity Line of Credit (HELOC) you open a revolving credit line, like a credit card secured by your residence’s equity. The loan size of either loan is determined by the equity in your home and how much of it you intend borrow against. The advantage of a HELOC is that you get to borrow only the amount you require as you need it. This allows your payment to be based on only what you draw as opposed to the entire loan amount.

The appeal of home equity borrowing resides in the low interest rates, the tax deductibility of interest, graduated payments over a longer term and the accumulated equity in your Portsmouth, Virginia home. Home equity also represents a liquid asset for unexpected expenditures. If you are planning major remodeling, investment, or debt consolidation – Now might be the time to tap in to your home’s equity. Let American Brokerage’s Home Equity Loan Specialists help you meet your lending needs today! Call 800-874-8760, Or Apply Online Today.