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

A HELOC is a revolving line of credit you can draw from as needed, usually with a variable rate. A home equity loan gives you a lump sum with a fixed payment. Both are second loans that leave your first mortgage in place.

How much equity can I access?

Lenders typically allow a combined loan amount up to a set percentage of your home's value, depending on the program, your credit and the property. We'll estimate your available equity on a call.

Is a HELOC better than a cash-out refinance?

If your current mortgage rate is low, a HELOC or home equity loan often makes more sense because you keep that rate. If your current rate is higher, a cash-out refinance may be worth comparing.

Is HELOC interest tax deductible?

In some cases, when the funds are used to buy, build or substantially improve the home. Tax rules change, so please confirm with your tax advisor.

Your home secures the loan, so missed payments put it at risk, and variable rates can rise. We'll help you borrow only what you need and plan the payoff.

HELOC & Home Equity Loans in Murrieta & Temecula, CA

Stephen Chakerian | NMLS #2193331 | Barrett Financial Group, L.L.C. | NMLS #181106 | 2701 East Insight Way, Suite 150, Chandler, AZ 85286 | CA 60DBO-46052 & 41DBO-148702 Licensed by Dept. of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law License. | FL MLD1880 | TN 204577 | TX view complaint policy at www.barrettfinancial.com/texas-complaint | Equal Housing Opportunity | Equal Housing Lender | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106