HELOC stands for Home Equity Line of Credit.

Preferably a job where you can show W2's and pay stubs.

Higher credit score individual's can obtain "no-doc" HELOC'S or fixed second mortgages.

Many times you can take advantage of a "no cost" HELOC or Fixed rate second. Ask your Loan Officer if this option is available to you.

If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates. And they may provide you with certain tax advantages unavailable with other kinds of loans. (Check with your tax adviser for details.)

At the same time, home equity lines of credit require you to use your home as collateral for the loan. This may put your home at risk if you are late or cannot make your monthly payments. Those loans with a large final (balloon) payment may lead you to borrow more money to pay off this debt, or they may put your home in jeopardy if you cannot qualify for refinancing. And, if you sell your home, most plans require you to pay off your credit line at that time. In addition, because home equity loans give you relatively easy access to cash, you might find you borrow money more freely.

Remember too, there are other ways to borrow money from a lending institution. For example, you may want to explore second mortgage installment loans. Although these plans also place an additional mortgage on your home, second mortgage money usually is loaned in a lump sum, rather than in a series of advances made available by writing checks on an account. Also, second mortgages usually have fixed interest rates and fixed payment amounts

Ask about our special low monthly payment programs for unlimited cash out and debt consolidation refinance. Pay off those high interest bills.

You still need to have a job to qualify.

Unlimited cash out's may also be available as a reduced or no documentation type of program.