Question:

What is 125% HELOC (home equity line of credit)?

Answer:

A 125% HELOC (home equity line of credit) is a loan of 125% the market value of your house extended to borrowers with very good credit rating. It is often offered as a quick cash access option, as well as a debt consolidation loan.

Often borrowers may choose the loan term. If the open end option is selected, payments will be due only on the amount you spent. A 125% HELOC may have tax-deductible interest as HELOCs often do - contact your tax advisor for more specific information.

The 125% home equity line of credit may be a very good refinancing and debt consolidation option which, when accomplished in a smart way, will get you lower payments, some free cash and greater tax-deductibility.

Link this QnA Print del.icio.us Digg

Can't Pay all your Bills? Need Money Fast? Fill the Form Below

  • Up to 1000$
  • Immediate Approval
  • No Application Fee
  • Cash by Tomorrow
  • Bad Credit is OK
  • No Obligation
  • Confidential Service
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
 Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA:

Common misspellings: mortage and morgage