Can You Do a Home Equity Line of Credit for Us?

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Greetings Joe, Hope you are doing well.

You did our mortgage 4 years ago and got us a fantastic rate, which we don’t want to give up. We want to do some home improvements and pay off one credit card. Was wondering, can you do a home equity line of credit for us? If you can, we were thinking around $75,000.

Please let us know. I could also use a referral for a roofer, landscaper and electrician.

All the best!”

 

Yes, of course we can do a home equity line of credit for them.

 

Their current mortgage is at 2.99 percent, they have paid down four years, and have 11 years left on their mortgage. Especially with the rise in home values over the past few years, a home equity line of credit is certainly the best bet for them.

 

If a home equity line of credit might be of interest to you, let me know.

 

Originally posted on RightTracFG.com

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comments (7)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. I'll bet you looked at all the possibilities before you came to the proper conclusion. HELOC it is. Enjoy your day.

Aug 15, 2022 04:11 AM
Dick Betts
TOUCHSTONE REAL ESTATE - The Villages, FL
REALTOR® The Villages, Florida

I am in the middle of finding the best solution for adding on to my home, HELOC is a possibility! 

Aug 15, 2022 04:19 AM
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Joe!!!

HELOCs are best way to tap in to your home equity for whatever reason to have easy access to funds without paying high interest rates on credit cards

Aug 15, 2022 04:27 AM
Roy Kelley
Retired - Gaithersburg, MD

Our old home equity line of credit expired years ago. We may need another one to fund the purchase of a retirement residence before we sell our home.

Aug 15, 2022 05:09 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for the post, very enjoyable.  Have a great Monday and work week.  Sell a house. bill

Aug 15, 2022 05:25 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Aug 15, 2022 06:54 AM
Fred Sweezer Sr. CMI, LLC.
Hud Certified 203K Consultant - Long Beach, CA
Certified Home Inspector

very few homomers use this source for funds thanks for your post.  

Sep 20, 2022 01:47 PM