A Home Equity Line of Credit (HELOC), allows you to unlock the equity built in your home and use the money for other vital uses.

Uses such as:

  • Make Home Improvements
  • Consolidate Your Debt
  • Fund an Important Purchase
  • Help Pay for a Major Expense

A HELOC may be a good choice for homeowners who are looking for:

  • Funds in a lump sum – you can get the full loan amount at once
  • Funds to apply for the above choices with the security of a fixed interest rate
  • Predictable monthly payments
  • A definite payoff date
  • Pay down balance at any time without penalty

Unlike a personal loan or credit cards, the interest on your home equity loan may be tax deductible (you should consult your tax consultant).

Your Onyx Lending advisor can help you select the right home equity option that meets your needs.