Home Equity Line of Credit (HELOC) in Denver

Home Equity Line of Credit (HELOC) in Denver

We offer both home equity and HELOC loans within Denver. They are similarly named but function very differently. There are home equity term loans and home equity lines of credit (HELOC). Denver home equity term loans is a lump sum loan based on the equity in your Denver home that is to be paid back over a designated amount of time. This contrasts with a home equity line of credit, which functions a little more flexibly.

Denver's Best Home Equity Loan Rates

Home equity loans offer the opportunity for Denver home owners to leverage their equity to their benefit. Think of it like a credit card with a time and a credit limit. These lines have a variable interest home equity loan rates that change over the course of the loan. Denver HELOC loans also require withdrawal of a certain amount each time the line of credit is accessed.

Home equity lines of credit are perfect for Denver homeowners with less fixed, varied expenses to ensure that they always have access to funds, while protecting the borrower from overpaying interest on money they aren't using. Many people choose a home equity line of credit to pay for college expenses, or to reinvest in their home with an expansion or remodeling.

Alternately, a home equity loan is ideal for Denver borrowers looking to pay off a large, one-time expense. While a home equity loan will have an interest rate greater than that of a home equity line of credit, it its tax deductible up to $100,000, and is paid back in fixed monthly payments. Ideal for single large expenses, these loans are perfect when an unexpected cost interrupts your budget.

Get the Lowest Rates on Home Equity Loans in Denver

If you'd like to learn more about the HELOC loans offered by US Mortgages in Denver, let us know your contact information and we'll be in touch as soon as we can. Alternatively, feel free to give us a call at our Denver office with any questions you may have about home equity lines of credit or any of the other loan products we offer.

Pre-Qualify In Minutes, With No Impact To Your Credit Score

With just some basic information, you are on your way to your new Home. In most cases, our agents will call you in a few minutes to get things started. In some rare events it could be up to 24 hours. We always try to call between 8am and 5pm MST, so we don’t disturb you after hours. If you would prefer we did call outside those ours, please just add in a note and we will be happy to oblige.

Why should I get pre approved for my home loan or refinancing?

Home loan pre approval in Denver simplifies the loan process. Preapproval allows a lender to see a full 360 degree view of the borrower's financial situation, enabling us to advise borrowers on all home loan considerations. This helps us identify which loan we offer is the best fit for the borrower. Prequalification allows borrowers to pursue the loan that's best for them and their financial situation.

How can I get ready for home loan prequalification in Denver?

Excellent question! A great place to start is by understanding what lenders look at. For the most part, lenders look at 4 things. The first is your FICO credit score which includes your payment history, credit utilization and the length of your credit history. The second is your income with respect to your monthly housing costs. The third is the number of current loans you have and their status. The fourth and final thing lenders consider is the percentage of the cost of the home you're looking to purchase that you can put as a down payment. Get ready for prequalification by understanding your status in these areas and identifying what you can do to improve them before buying a home.

About US Mortgages

US Mortgages has been securing mortgage pre approval in Denver for over 20 years. Let us know how to reach out to you, or give us a call today.

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Pre-qualification means one of our mortgage specialists will contact you. This does not represent an offer to enter into a loan agreement. Loans subject to credit and property approval. Normal credit qualifications and other terms and conditions apply. Not all loan products or terms are available in all states.