A Home Equity Line of Credit (HELOC) is a flexible loan that lets you borrow against the equity in your home. It works like a credit card—you’re approved for a credit limit and can borrow as needed, repay, and borrow again during the draw period.
At First Entertainment, our HELOC features a 10-year draw period, meaning you can access funds anytime during those 10 years. After that, the line of credit closes and you’ll enter a 15-year repayment period, where you’ll pay back the remaining balance over time. HELOCs are great for: Home improvements, Debt consolidation, Emergency expenses, Large purchases, and more.