Unbeatable HELOC Rates

March 6, 2023

Unbeatable HELOC Rates

Equity advantage =  home equity line of credit (HELOC) without impacting your current low rate. 

A HELOC is like a credit card attached to the equity in your home. You don’t make any payments unless you buy something with the line of credit. Most of the time you make interest only payments for the first 10 years, then regular principle and interest payment for the rest of the repayment schedule. A HELOC is great for those who don’t want to access all their equity all at once, and only want to use the equity when needed. 

HELOC benefits: 

  • Ultra-fast closings
    In a few minutes, close from the comfort of home, like John did. Eazy closing peazy. 

  • Consolidating debts such as credit cards and personal loans.
    There’s no comparison, a mortgage rate is almost always much lower than the interest rate you pay on credit cards. Most homeowners can save up to $2,500 or more per month paying off high-interest credit cards.

  • Home improvements that increase the value of your home.
    Investments in your home are never a bad idea. If you want to go solar, build a deck, put in a pool, go with high-efficiency windows and doors, or even a new roof, A/C or plumbing, this is a great way to do it.

  • Renovations.
    If you want to do some upgrading to your home, a cash out refinance is a great way to do it without paying out of pocket to get it done. A mortgage allows you to finance the construction with a much lower rates than a credit card or personal loan most of the time.

  • Additions.
    Have you been thinking about adding a deck or putting in pool to your home?

  • A rainy day fund.
    In today's uncertain economy, no one knows when it'll rain and how hard. If you’re just wanting some security knowing you have some emergency cash on hand, cashing out some equity can provide it for you. If you have a big expense coming up, you might want to consider tapping into your home’s equity to pay for it. 

Bee offers 20- or 30-year standalone HELOCs giving you a simply and easy way to tap into your home’s equity without touching the rate on your current mortgage. It’s a popular option for accessing cash that can be used to pay down debt, make home improvements, cover tuition and more.

  • Available on primary and second home loans
  • Loan amounts up to $500,000
  • 640+ FICO, up to 89.99% CLTV
  • $25,000 minimum line amount, initial draw must be 75% of line amount
  • For line amounts up to $250,000, only an approved AVM is required
  • For line amounts over $250,000, a full appraisal is required
  • Available in Florida only
  • Condos require full appraisal
  • All loans subject to final lender approval
  • Additional terms and conditions may apply

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Bee is a leading Florida mortgage broker with over 10 Florida local offices that’s been featured heavily in the local and national news for its instant pre-approvals, low rates, fast closings, and new mobile technology. For more news and resources, click here.

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