Cindy Cliff

Mortgage Loan Officer

NMLS: 2075376


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A Home Equity Line of Credit (HELOC) is a type of loan that allows homeowners to borrow against the equity they have built in their homes. It is a flexible borrowing option that can be used for various purposes, such as home renovations, home remodeling, debt or student loan consolidation, bill consolidation, or major purchases.

With a HELOC, homeowners can access a revolving line of credit, similar to a credit card. They can borrow money as needed, up to a predetermined limit, and only pay interest on the amount borrowed. This provides homeowners with the flexibility to manage their finances and use the funds when they need them.

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HELOC's typically have variable interest rates, which means the interest rate can fluctuate over time. So for example a 10 yr HELOC will readjust at 5 yrs to that current Prime rate, plus it's index. This can be advantageous if interest rates are lower, as homeowners can benefit from a lower monthly payment. However, it is important to carefully consider the potential risks associated with a HELOC, such as the possibility of increasing interest rates in later years and the potential for foreclosure if payments are not made if interest rates later rise.

If you're a homeowner looking for a flexible borrowing option, a HELOC may be the right choice for you. Contact Cliff Mortgages at 970-308-2540 or email us at to learn more about our HELOC options and start the application process.

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