More information of Home Equity Line of Credit (HELOC)
Owning a home, in addition to the obvious advantages, also provides you with the opportunity to obtain financing under more favorable conditions than the usual personal loans, and with much longer terms and amounts.
For this purpose, there are loans and lines of credit with mortgage guarantee, in which we provide as collateral a house of our property, which will act as a guarantee for the bank in case we are unable to meet the repayment of the monthly installments.
PNC Bank markets a line of credit of this type, also known as HELOC, which stands for Home Equity Line Of Credit.
The financial entity does not provide much information about the conditions it applies, so it is best to request personalized information so that we can be contacted by phone or email and receive a personalized offer at no cost.
With this PNC Bank credit line you will be able to choose between a fixed or adjustable interest rate, and you will only pay interest on the amount you have used, as with credit cards.
You will have a first draw period during which you can use the money for whatever you want, and a subsequent repayment period during which you will have to pay the bank the capital used plus interest.
Español: Línea de crédito con garantía hipotecaria de PNC Bank