Home Equity Line of Credit (HELOC)

Now more than ever, borrowers are looking for additional ways to have more flexibility with their money. That’s where a Home Equity Line of Credit comes in — it offers two types of HELOCs.

Standalone HELOC

Independent of who originated the loan, this product offers current homeowners a simple way of tapping into their home’s equity when a cash-out refinance doesn’t make sense due to having a low-interest rate on their current mortgage. It’s a popular option for accessing cash that can be used to consolidate and pay down debt, make home improvements, cover tuition, and more.

Piggyback HELOC

This product allows qualified conventional borrowers to secure a new mortgage on the home while simultaneously opening a home equity line of credit. Doing so allows borrowers with less available for a down payment to borrow additional money that can help them avoid mortgage insurance. It’s also a great option for borrowers with jumbo loan amounts who want to qualify for a conforming loan instead.

What are the benefits of a Home Equity Line of Credit?

	Line of credit up to $500,000
	Eligible for Primary and Second homes
	Interest Only payments for 10 years
	20-year and 30-year options
	No pre-paid penalties

Still have questions on the HELOC Process?

If you still have questions on the Process, please contact New Dwelling Mortgage at 1-844-317-3050, Monday through Friday from 9:00 am to 5:00 pm EST.

Caesar Krit

02:36 04 Oct 24

My wife and I cannot say enough about the expertise and true professionalism that New Dwelling provided for our first home. Gaby and Frank were extremely thorough and worked under short notice to meet deadlines. Would highly recommend to anyone else.

Jose Guzman

21:56 29 Jul 24

We used New Dwelling Mortgage for our Mortgage on our home and I must say do not second guess their services !! Steve & Gaby were great throughout the entire process; constant communication; weekly status updates. They make videos which help you visualize and understand important documents. Steve is there for all your needs and the best part was how quick we were clear to close!!! Thank you to everyone at New Dwelling.

Blue River

05:45 25 Jul 24

New Dwelling Mortgage specifically Stephen Simone created a wonderful experience for me as a client. He was knowledgeable, present, and in my estimation, the most ethical consultative service person I have ever worked with in my life. Ray every turn he promised and OVER delivered. He was able to get a mortgage done in two weeks for my family.I consider Stephen Simone not only a fantastic mortgage broker, but a friend for life after this experience.Thank you, Stephen Simone! And New dwelling Mortgage.

Justin Conigliaro

23:31 11 Jul 24

My wife and I cannot say enough about the expertise and true professionalism that New Dwelling provided us throughout the process of purchasing our first home. Amanda, Gaby and Frank were extremely thorough, warm and patient. They provided us with extremely helpful videos every step of the way, they made time to answer all of our many questions and made us feel extremely comfortable and confident as we embarked on a journey that we truly knew nothing about. Thank you so much for everything that you’ve done for us. We will ALWAYS work with New Dwelling moving forward and would highly recommend anyone else to do the same.

Ruth Boda

00:55 25 Jun 24

I have been working with Frank and New Dwellings on both refinance and purchase transactions. Their number 1 focus is taking care of their clients. I can 100% state from personal experience, that Frank and his team are one of the most professional, responsive and helpful mortgage professionals I have ever worked with. I highly recommend Frank and New Dwelling Mortgage!Got a loan started and closed in just 15 days! AMAZING!