Home Equity Line of Credit Options
We would love to assist you with your Home Equity Line of Credit in Michigan! There are plenty of reasons it makes sense to tap the equity in your home and there are great HELOC options available for tapping your home equity in Michigan. For example, you can use your home equity to consolidate other debt and lower your monthly payments, complete home improvements/renovations or any other financial need that is important to you.
or call us at 855-935-LOAN (5626)
How Does a Home Equity Line of Credit Work?
A HELOC (Home Equity Line of Credit) is a line of credit against your home. Unlike a cash out refinance, your first mortgage stays in place. So the new Home Equity Line of Credit is placed “behind” the first mortgage as a second lien or mortgage on your home. Then you can draw from the credit line, pay down the balance and draw again as needed. However, you only pay interest on the balance drawn. In some cases the “draw” period is the first 10 years and during that time the minimum payments are only the interest due. After the draw period is the “repayment” period. Funds can no longer be drawn off the line and the payment switches to full principal and interest to pay the balance off over time.
or call us at 855-935-LOAN (5626)
Michigan Mortgage Company
Parker Mortgage Group LLC is a licensed Michigan mortgage company providing mortgages and home loans. Whether you’re purchasing your first home, are a seasoned investor with multiple properties or fall somewhere in between, we’re here to ensure you get the maximum return on your investment by choosing the best mortgage product to meet both your short AND long-term financial goals. We understand that purchasing a new home and taking out a new mortgage are some of the biggest decisions many of us will make, but we also realize that typically the need to refinance or purchase is part of an even bigger life change. Our promise to you is unmatched availability and communication so you can continue to focus on what’s most important in your life, while we handle your home financing.
Home Loan Options
Michigan Home Equity Line of Credit (HELOC) – Parker Mortgage Group LLC
Apply to review great Home Equity Line of Credit options in Michigan
Call us today! 855-935-LOAN (5626)
Parker Mortgage Group LLC
Parker Mortgage Group LLC is licensed to broker loans all over Michigan. Here are just a few of the cities where our mortgage company has provided mortgages: Ann Arbor, Chelsea, Jackson, Coldwater, Brighton, Novi, Plymouth, Dexter, Manchester, Birmingham, Farmington Hills, Farmington, Oak Park, Royal Oak, Hazel Park, Ferndale, Monroe, Lansing, Northville, Grand Rapids, Portage, Benton Harbor, Kalamazoo, Marshall, Dearborn, Troy, Adrian, Mt. Pleasant, Traverse City, Saline, Gaylord, Saginaw, Howell, Flint, Detroit, Shelby Twp, Port Huron, Mt. Clemens, Clarkston, Pontiac, Battle Creek, Westland, Cadillac, West Branch, Tecumseh, Ludington, Flushing, Charlevoix, Fenton, Petoskey, Holland, Canton, Muskegon, Midland, South Haven, St. Joseph, Bad Axe, Grass Lake, Owosso, Dearborn Heights, Clare, St. Clair Shores, Macomb, Madison Heights, Eastpointe, Gross Pointe, Warren, Clinton Twp, Sterling Heights, Rochester, Auburn Hills, Bloomfield Hills, Coldwater Lake, West Bloomfield, Livonia, Redford and Southfield.