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Lines of Credit

Whether you want cash to cover expenses, or just want the security of knowing that you have access to funds should the need occur, a home equity line of credit (HELOC) is a revolving loan that allows you to tap into the value of your home whenever you need it.

The process of obtaining the line of credit is similar to obtaining a mortgage or home equity loan, although settlement costs are usually lower for a HELOC. Once the line of credit has been opened, you can borrow what you need, up to a predetermined maximum, by check or credit card. As you repay the loan, the funds are restored. The line of credit stays open for a predetermined period—usually a minimum of 10 years.

Interest rates on a HELOC are usually adjustable, and tied to the prime rate. Some offer guaranteed introductory rates for a short period of time, and some are convertible to fixed-rate loans when you draw on them. Unlike standard Adjustable Rate Mortgages, HELOCs have no adjustment caps.

We can tell you more about our home equity lines of credit.


What Our Customers Say

Trident Mortgage Company was the best choice we could make when we bought our new home. Larry Flick was very informative and friendly. He made himself available to accommodate our busy schedule. He took care of eveything and we closed on the date and time we wanted - everything went so smoothly. We would definitely go with Trident and Larry again. 

~ M. & L. R.