Hey, friends. Rylee Kuntz and Zach Falk here from Black Diamond Mortgage. And we’re just hopping on here real quick today to chat with you about the advantages of a hillock.
A HELOC, what is it, HELOC? Home equity line of credit. So a ton of you have just gobs of equity because the market has given that to you over the last couple of years. But you also have these really nice low interest rates on your primary mortgage. So that presents a problem. If you need cash, you don’t necessarily want to get rid of that interest rate because it’s sweet, but maybe you still need cash. A home equity line of credit is the perfect solution because it’s actually a secondary mortgage that gets attached as a second lien under your primary mortgage, and it’s a line of credit. So it kind of acts like a credit card if you need money or if you have a project, maybe you want to pay off some high interest debt that just is weighing you down. A HELOC is the solution for that. Because you get the money, you protect your interest rate, you move forward with life. What do you think? Boom, boom.