Unlock the Power of Your Home's Equity
Which Option Is Right for You – HELOAN or HELOC?
We help you make smart financial decisions by offering expert guidance on how to leverage the equity in your home. Whether you need a lump-sum amount or flexible access to funds, understanding the difference between a Home Equity Loan (HELOAN) and a Home Equity Line of Credit (HELOC) is essential.
What Is a Home Equity Loan (HELOAN)?
A Home Equity Loan delivers a one-time lump sum secured by your home’s equity, repaid over a set term with a fixed interest rate and consistent monthly payments. It’s ideal for significant, upfront expenses like home improvements, debt consolidation, or education .
What Is a Home Equity Line of Credit (HELOC)?
A HELOC acts like a home-backed credit card: a revolving line of credit you can tap during the draw period. You pay interest only on what you borrow—typically at a variable rate—making it flexible for ongoing costs such as phased renovations, tuition, or emergency expenses
Compare Your Options
ASPECT
Home Equity Loan (HELOAN)
Home Equity Line of Credit (HELOC)
Nature of Loan
Lump-sum loan provided upfront
Revolving credit line as needed
Disbursement
Full amount disbursed at once
Withdraw as needed during draw period
Loan Term
5 to 30 years fixed or balloon
3, 5, or 10-year draw with 20–25-year repayment
Lien Position
2nd lien only
1st, 2nd, or 3rd lien available
Property Type
Primary, 2nd home, investment
Primary and 2nd home
Interest Rate
Fixed rate
Variable rate
FEMI AJETUNMOBI
Mortgage Loan Consultant
CONNECT WITH US!
Let’s Find the Best Fit for Your Financial Goals
Whether you’re renovating, consolidating debt, or funding major expenses, choosing the right home equity solution is key.
👉Call now for a FREE consultation:
📱(310) 400-0668
🌐www.doctorlendor.com
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Licensed NMLS#: 1505329
