Home Equity Loan | Home Equity Line of Credit | HELOC

Home Equity Loan

Tapping your home equity is a great way to get the money you need now.
Learn more about HELOCs and Home Equity Loans.

Fixed Rate Mortgage

What’s a home equity line of credit?

Home equity lines of credit (HELOCs) are revolving lines of credit that use your equity as collateral. Like with a credit card, you can borrow as much as you need, so long as it’s within your limit. You must then make payments on what you borrow, with interest added.

A HELOC is a good choice if you need access to additional funds over a longer period of time—like in the case of renovations or home repairs.

What’s the difference between a HELOC and a home equity loan?

Since home equity loans let you access a certain amount of your equity without refinancing, they are very similar to HELOCs.

The key difference is that home equity loans are a one-time, lump-sum arrangement. You get the money, and then you pay it off over a fixed term, almost like it’s a second mortgage.

A home equity loan may be a better choice for you if only need money for a one-time purpose.

Why pick Total Mortgage?

After 17 years of success, it's safe to say that we know what we are doing. Plus:

For this and other options for using the equity in your home, give us a call or fill out the form on the right.

A Home Equity Loan, or line of credit, allows you to tap into your equity and can give you access to the funds you need now.

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Why choose Total Mortgage?

Tap into your equity the smart way. Get started by filling out our form or calling 203-707-5693