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.

Christopher Cardinali

21:38 09 Dec 24

My wife and I worked with Stephen to secure a mortgage for our first house. Stephen did an incredible job walking through every step of the journey and made us feel comfortable throughout the entire process. As first time homeowners, he was thorough, patient, and went above and beyond every step of the way. He was able to alleviate all our concerns and over simplified what could have been a very stressful process, taking time to explain every stage of the process. Gaby was also incredibly attentive and always checked in with us and made sure we were always progressing in accordance with the timeline we had for closing. It was an amazing experience working with them both and we would recommend them to anyone in need!

Michael Stumpf

17:31 08 Dec 24

We had a difficult case, buying a house from the estate of a family member. Steve Simone was just great! It took us more than a year but Steve was there for us through every twist and turn. His experience was invaluable and his responses were always quick and on point. And in the lead up to the closing, Gabi and the back office staff were just as great. Thank you all so much and Five Stars! Highly Recommended!!!

T F

04:27 07 Dec 24

Absolutely amazing team! We worked with Steve and Gaby. Both were extremely attentive, patient and knowledgeable! They walked us through the mortgage loan process step by step. They made the entire process so simple and straightforward. I would highly recommend this business and the team to anyone! You won’t be disappointed!

Ari K

15:11 02 Dec 24

My wife and I are blessed to have met Frank at New Dwelling Mortgage!!! Genuinely an absolute pleasure to work with from start to finish. Can't say enough about him and his company process. We would recommend anyone in the market to give New Dwelling a call first.

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.