In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Line of Credit
Is a revolving credit facility that has no end term. A line of credit (LOC) is an account that lets you borrow money when you need it, up to a preset borrowing limit, by writing checks or using a bank card to make purchases or cash withdrawals. Available from many banks and credit unions, lines of credit are sometimes advertised as bank lines or personal lines of credit.
Lines of credit, like any loan product, have the potential to be both useful and dangerous. If investors use a line of credit, they must pay it back (and the terms for such paybacks are spelt out at the time when the line of credit is initially granted). As a result, there is a credit evaluation process in place, and would-be borrowers with poor credit will have a much more difficult time getting approved.
A HELOC, or secured line of credit, may be a smart idea if you need money for a home renovation project, education expenditures, or other major expenses.
Learn MoreA bank or credit card issuer can generally lower or increase your credit limit at any time as long as the credit card agreement allows. If the bank revokes your line of credit your remaining balance will have minimum monthly payments and a fixed interest rate.
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