Home Equity Line of Credit | Agape Mortgage Group

Home Equity Line of Credit (HELOC)

Looking to consolidate debt, pay for college, or fund home improvements? A Home Equity Line of Credit (HELOC) can provide the cash you need while keeping your existing mortgage interest rate low.

Get Approved

Is a HELOC the right choice for you?

Maintain Your Low Home Rate

A Home Equity Line of Credit (HELOC) won’t impact the interest rate on your first mortgage.

There’s Room in Your Budget

A HELOC adds another monthly payment, but it offers you complete flexibility in accessing and using your home's equity.

Get Your Funds in Just 5 Days

Ready to use your equity for your goals? Our HELOC options can be funded in as little as 5 days.

3 Simple Steps to Secure Your Loan

Apply Online

Start your journey to homeownership by submitting a simple online application, providing key financial details to help us match you with the best loan options.

Chat with an Expert

Connect with one of our experienced loan experts who will guide you through the process, answer any questions, and help you find the best mortgage solution for your needs.

Close Your Loan

Once your loan is approved, we'll guide you through the final steps to close, ensuring a smooth and timely process to get you into your new home.

Compare Home Equity Lines of Credit

Home equity lines of credit and cash-out refinances are both great ways to leverage your home to achieve financial goals. Unsure which option is right for you? Our team is here to help.

	Home Equity Line of Credit	Cash-Out Refinance
Interest Rate	Likely Higher	Likely Lower
Mortgage Payments	Two Monthly Payments	One Monthly Payment
Length of Loan	10 or 20 Year Term	From 8 & Up to 30-Year Terms
Closing Costs	Yes	Yes

Talk to an Expert

Frequently Asked Questions

Here are answers to common questions about this loan, gathered from people like you during our research.

What’s home equity?

Home equity is the difference between your home's current value and the remaining balance on your mortgage. For example, if your home is worth $200,000 and you owe $150,000, you have $50,000 in equity.

How do I know how much home equity I have?

To estimate your home equity, determine your home's current market value and subtract the remaining mortgage balance. For instance, if your home could sell for $200,000 and you owe $150,000, your equity would be approximately $50,000.

However, when opting for a cash-out option, you may not be able to access the full amount of your home equity. Typically, you may need to leave a percentage, often around 20%, of the equity in the home.

What can the funds from a home equity line of credit be used for?

Many borrowers use a home equity line of credit for purposes like home improvements, debt consolidation, or paying for tuition. However, you can actually use a HELOC for almost anything you need.

Will taking out a home equity line of credit hurt my credit score?

When you open a new loan, such as a home equity loan, your credit score may experience a slight dip. This drop is usually temporary, and your score could even improve over time as your total available credit increases.

Discover what works best for you!

Get Pre-approved