Access The Cash You Need Anytime With A Home Equity Line Of Credit
A home equity line of credit is a type of loan made available to homeowners who wish to use the equity of their home as collateral and security for their debt. These loans are essentially a line of credit provided to the homeowner.
A Home Equity Line of Credit works much like a credit card since interest is charged at a variable rate that is predetermined. When you withdraw money and there is a balance owing on the loan, monthly minimum interest payments will need to be made. There are no closing costs when dealing with a home equity line of credit, and you only pay interest on what you borrow.
What are the benefits of a Home Equity Line of credit?
A home equity line of credit is ideal because it provides easy access for you, the homeowner, to get cash fast as you need it and have the freedom and flexibility to use that cash for any purpose you would like. A Home equity line of credit is a popular choice for people who are not sure how much they will need to borrow and when. You will usually have access to ongoing credit (cash) for a set period of time, and can make the minimum monthly payments for the interest using the line of credit, repay it in part, or pay it all off at any time.
This can be an excellent way to help with short term annual and monthly payments such as university tuition, renovation projects, higher-interest credit card debts, and more.
Homeowners get approved!
Getting approved for a home equity line of credit is easy! As long as you own a home, for the most part, you can get approved quick and easy. You don’t have to even live in the property. Investment properties that you rent out to others can qualify for this type of loan too!
How much can I borrow with a home equity line of credit?
The amount of money you can borrow is based on the amount of value you have in your property. Clover Mortgage can arrange a Home Equity Line of Credit as small as $10,000 to well over $1,000,000.
To find out how much equity you have available in your property you would consider the total value of your property and subtract the remaining balance of your mortgage. For example, if your home is worth $500,000 and your remaining mortgage balance is $100,000, then you have $400,000 in equity available in your home!
Why Work With Us
*Rates start as low as 3.95%
*Rates are subject to change. Terms and conditions may apply.
We pride ourselves on quick, easy & honest service. Our clients always come first.
We specialize in dealing with bad credit & bank declines. We turn a “no” into a “YES!”
*No credit checks. No complicated application.
*Terms and conditions may apply.
Our Customers Love Us
I was in debt and needed help getting back on track. My mortgage agent at Clover Mortgage helped me get approved for a home equity loan to consolidate all of my debt in one small monthly payment. Now I’m saving over $1,000 a month in interest and am left with less debt and more money in my pocket at the end of each month. Thank you Clover!
I’m a self employed independent contractor. I earn a decent income, but when I went to the bank to refinance my home, they denied my application telling me that I didn’t have enough “provable” income to qualify for refinancing my home. When I came to Clover I was almost out of hope. My Mortgage Agent at Clover was caring and professional, and help me get a great rate and flexible terms on full refinance. The whole process took less than 48 hours! I was impressed at how quickly and easily they were able to get me the money and home refinance I needed. Thank you Clover Mortgage, I’m recommending you to everyone I know!!
I had really bad credit, but really wanted to purchase a Condo. When I went to the bank they made me go through a lengthy application process that took weeks, and then they turned me down at the end of it all. When I found Clover Mortgage online, I called them and a friendly Mortgage Agent was able to help me get approved for a mortgage quickly and hassle-free. I got a good rate and now live in a home that I am comfortable in and am able to easily afford my monthly payments.
I definitely recommend Clover Mortgage to any new home buyer! They were very professional and helped my husband and I get mortgage for our new home at an even better rate than the bank was offering us. They also helped us get the mortgage with a smaller down-payment than the bank demanded from us. Since we did our mortgage with Clover, several of our friends and family members got their from them also, and Clover Mortgage has been able to help all of them, even the ones that were completely turned away and rejected by their banks.
My husband and I found ourselves in a tough situation. Luckily my expert mortgage broker at Clover Mortgage helped us get a fast and easy approval for an amazing rate for refinancing our home. Clover’s service is the best I’ve ever experienced and I’ve been recommending them to all of my family members and friends ever since. Thanks for your help Clover!
I definitely recommend Clover Mortgage to any new home buyer! They were very professional and helped my wife and I get mortgage for our new home at an even better rate than the bank was offering us. They also helped us get the mortgage with a smaller down-payment than the bank demanded from us. Since we did our mortgage with Clover, several of our friends and family members got their from them also, and Clover Mortgage has been able to help all of them, even the ones that were completely turned away and rejected by their banks.