Unlock the Value in Your Home with a HELOC
Marshall Everett Home Equity Solutions
A Home Equity Line of Credit (HELOC) is a flexible borrowing option that allows you to access funds based on the equity in your home. Unlike traditional loans, a HELOC works like a revolving credit line—you draw funds as needed and pay interest only on what you use. Most HELOCs have a variable interest rate and are secured by your home.
At Marshall Everett, we connect you with trusted partners who offer HELOCs tailored to your financial goals. Whether you’re planning a renovation, consolidating high-interest debt, or funding a major expense, we make the process simple and straightforward.
HELOC Qualifications
To qualify through our partners, you’ll need to meet several key criteria:
- Home Equity: Most partners require at least 15%–20% equity in your property.
- Credit Score: A credit score of 660 or higher is typically expected. Higher scores may help reduce your rate.
- Income Verification: Proof of stable income and employment is necessary to ensure you can comfortably manage repayment.
- Debt-to-Income Ratio (DTI): A DTI of 43% or lower is ideal. This is calculated by dividing your total monthly debt payments by your gross monthly income.
- Repayment History: A solid history of paying credit obligations on time will strengthen your application.
Common Uses for a HELOC
- Home upgrades or repairs
- College tuition or education costs
- Starting a business
- Buying investment property
- Paying off high-interest credit cards
For smaller purchases or short-term needs, consider a personal loan—available through our partners without requiring home equity.
Borrowing Limits
Our partners typically offer HELOCs that allow you to borrow up to 80% of your home’s appraised value, minus any outstanding mortgage balance.
HELOC Alternatives
If a HELOC isn’t the right fit today, Marshall Everett can still help you access funds through:
- Cash-Out Refinance: Replace your current mortgage with a new one and take the difference in cash.
- Fixed Rate Second Mortgage: Like a 1st mortgage, but in 2nd lien position.
- HomeSafe: Credit Line with no monthly payments for homeowners over 55yr old with sufficient home equity.
- Shared Appreciation Funds: Access funds from your home equity with no monthly payment in exchange for a portion of any future home appreciation. No monthly payment.
Let’s put your home’s equity to work. Contact us today to get started with a no-obligation consultation.