Home Equity Line Of Credit (HELOC) works different than a Home Equity Loan. HELOC is based on the equity of your home, does become a ‘second’ or ‘third’ against your property as a Home Equity Line of Credit. The interest rate may be ‘fixed’ or ‘adjustable’. The loan amount is determined and a limit set. You may ‘draw down’ on any portion of the Line of Credit and in many cases, can pay back interest only payments for a certain amount of time. If and as you prepay the amount borrowed, this amount can be re-established into your Line of Credit to be used again. Most Line of Credit time frames can run from 5 to 10 years, depending on lender and satisfactory borrower history. All interest payments are tax deductible (Please check with our Tax Department for any clarification) and the entire loan, if drawn down on, can be repaid at anytime usually without pre-payment penalties. If you do not draw down any amount, there is NO PAYMENT !! The Line Of Credit will be there for those emergencies that may cause you to use a credit card and pay extremely high interest rates. Rates on HPFS HELOC’s are normally at 5% below the current prime or even better during specific "specials"’.

HELOC’s through HPFS normally do not require appraisals or closing costs. You can go online and fill out the pertinent required information from your home or office and have an answer normally within 24 hours.

Click on www.greensource.deepgreenfinancial.com and see how easy is will be to get rid of the high interest credit card debt or to start that much needed addition or remodel!

SOME VERY GOOD REASONS TO CONSIDER A ‘HOME EQUILTY LOAN’!

	Avoid Mortgage Insurance (MI) and/or Jumbo Rates with a simultaneous 1st & 2nd loan.
	Substitute high interest rate credit accounts with a Home Equilty product and have one, easy to manage, low monthly payment.
	A Stand-Alone Home Equilty account can be used for home improvements, medical and educational expenses, bill consolidation, college tuition, or a new/used vehicle.
	Choice of ‘interest-only’ payments (line of credit) or fixed monthly payments (loans).
	Access to higher loan amounts and lower rates than most unsecured credit.
	Potential tax deductibility on interest paid.*  Home equality financing gives you the power to manage your home as an asset!!
	Consult with your tax adviser on tax deductibility of interest.
	Qualifying amounts are from $15,000.00 to $200,000.00.  Some restrictions may apply.
	Equal opportunity lender.

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