Home Equity Line of Credit

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.

Get in touch to review mortgage options →

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.

Get in touch to discuss a Home Equity Line of Credit →

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. 

Parker Mortgage Group →

Michigan Home Equity Line of Credit

27th January 2023

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)

Michigan Mortgage Company - Home Equity Line of Credit (HELOC)

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, West Bloomfield, Livonia, Redford and Southfield.

Parker Mortgage Group LLC is an award winning mortgage company with extensive experience in providing our clients with the best mortgage to suit their home loan needs in Michigan.
Top 1% Mortgage Broker Award
equal housing mortgages and home loans
Fastest Growing Loan Officer Award