Accelerate to the best Rate!
Menu
Home Equity Line of Credit (HELOC) loans provide homeowners with a flexible borrowing option, allowing them to access funds based on the equity in their homes. Unlike traditional Home Equity Loans, which provide a lump sum of money upfront, HELOCs offer a revolving line of credit that homeowners can draw from as needed.
The HELOC application process involves meeting eligibility requirements, providing necessary documentation, and waiting for approval and funding. Lenders evaluate applications based on factors such as credit score, loan-to-value ratio, and debt-to-income ratio to determine eligibility and loan terms.
Repayment options for HELOCs include interest-only payments during the draw period and fully amortizing payments during the repayment period. Borrowers can make additional payments or pay off the HELOC early without penalties, offering flexibility in managing debt.
HELOCs offer numerous benefits, including flexibility in borrowing and repayment, potential tax advantages (consult a tax advisor), and competitive interest rates. They serve as a versatile financial tool for various purposes, such as home improvements, debt consolidation, or covering unexpected expenses.
HELOCs typically consist of a draw period, during which borrowers can access funds, and a repayment period, when the borrowed amount must be repaid. Borrowers can access funds during the draw period through checks, credit cards, or online transfers, making it convenient to use the line of credit as needed.
Interest rates for HELOCs are often based on the prime rate plus a margin, with factors such as the borrower's creditworthiness influencing the rate. Terms of the draw and repayment periods, including minimum payments and any penalties for early repayment, are outlined in the loan agreement.
Potential risks associated with HELOCs include variable interest rates, the risk of foreclosure if payments are not made, and the impact on home equity. Borrowers should carefully consider their financial situation and future plans before taking out a HELOC to ensure they can comfortably manage the loan.
At Accelerated Home Loans, we offer a wide range of loan types to accommodate the diverse needs of our clients. Whether you’re a first-time homebuyer, a seasoned investor, or looking to refinance your existing mortgage, we have the perfect mortgage solution for you. Our experienced team of loan officers will work closely with you to understand your unique requirements and guide you towards the loan type that best fits your financial goals. Here are some of the loan types we specialize in:
Take advantage of exclusive benefits and flexible terms that make homeownership more accessible and affordable for those who have served our country.
Conventional loans generally have a streamlined underwriting process, resulting in quicker loan approvals and faster closings.
If you're a first-time homebuyer or have limited funds for a down payment, FHA loans can be an excellent option to make homeownership a reality.
Refinancing your existing mortgage can be a smart financial move that offers a range of benefits. Whether you’re looking to lower your monthly payments, secure a better interest rate, access your home’s equity, or consolidate debt.
Purchasing a home is an exciting and significant milestone in your life, and Accelerated Home Loans is here to help you navigate the home loan purchase process with confidence.
Home Equity Line of Credit (HELOC) loans provide homeowners with a flexible borrowing option, allowing them to access funds based on the equity in their homes.
Reverse Mortgages offer homeowners aged 62 and older an innovative financial solution by tapping into their home equity while retaining ownership of their property.
USDA Loans, backed by the United States Department of Agriculture (USDA), offer attractive financing options for homebuyers in eligible rural areas.
Get started by speaking with a licensed lending officer.
If you have received a letter from Accelerated Home Loans Inc., and would like to be removed from our mailing list, please give us a call at (800) 582-2323.
Mortgage Moneyline, Inc dba Accelerated Home Loans makes customer service our number one priority. We encourage you to call our Corporate Customer Service department at (800) 582-2323 between 8:00 am and 5:00 pm Pacific Standard Time or email us anytime at info@acceleratedhomeloan.com for any complaint resolution you may have regarding the origination of your loan.
Accelerated Home Loans is a dba of Mortgage Moneyline, Inc, Department of Veterans Affairs Lender ID: 905394000, is licensed Arizona Mortgage Broker License # 1043490; California Department of Real Estate Corporation License Endorsement # 02192492; Colorado Mortgage Company Registration #2412161; Florida Mortgage Broker License # MBR5911; Maryland Mortgage Lender License # 2412161; Michigan NMLS ID FL0025526; North Carolina Broker License #B-219481; Oregon Mortgage Lending License #2412161; South Carolina Mortgage Broker License #2412161; Tennessee Mortgage License # 2412161; Texas – SML Mortgage Company License #2412161; Virginia Broker License # MC-7760. Nationwide Mortgage License System License #1895842. Licensing Information can be viewed at www.nmlsconsumeraccess.org. There is no substitute for a Loan Estimate. Accelerated Home Loans Inc., is an approved VA Lender. VA Lender ID 90-32180000.
State of Texas – Consumer Compliant Notice: Figure: 7 TAC §80.200(b) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”
You are leaving our site and we cannot be held responsible for the content of external websites.