uses the equity residing in your current properties as collateral for the loan repayment for an amount approximate to the equity value.

A home equity line of credit (HELOC) enables property owners to use their equity as proof of debt capacity, granting them access to a credit line approximate to the equity value.

The process of reducing or paying off a debt with regular payments.

A lender’s initial evaluation of a potential borrower to calculate the amount of loan for which the borrower can reasonably be responsible.

The process of determining whether a borrower can be lent a certain amount of funds in a qualified mortgage, which are only granted in amounts that are reasonable for the borrower given their financial situation.