Get Your Home Equity Line of Credit (HELOC) With Blue Water Mortgage

A home equity line of credit, often referred to as a second mortgage, lets you access funds as you need them, rather than receiving the full amount upfront, as with a traditional mortgage.

HELOCs can offer a flexible way to cover major expenses such as college tuition, credit card consolidation or unexpected costs. Every HELOC includes two phases: a draw period, typically lasting 5–15 years, during which you can borrow against your available credit, and a repayment period, usually 10–20 years, when the balance is paid back.

Fixed-Rate Conversion Options

Some HELOCs offer the ability to convert a large draw into a fixed-rate loan at the time of withdrawal, helping provide predictable payments when managing larger expenses.

Have questions about your HELOC options? The Blue Water Mortgage team is here to help. Fill out the form to get your rate quote, and a knowledgeable mortgage professional will review your inquiry and get back to you within 24 hours.

Blue Water Mortgage is licensed in New HampshireMaineMassachusettsConnecticutFlorida, North Carolina, Colorado, Texas, Georgia, and South Carolina.

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All HELOCs are variable rate loans. HELOCs have some great advantages:

  1. Pay interest only on what you draw
  2. Interest only accrues on what has been drawn from the line of credit, allowing you to only pay interest on what you need at the time.
  3. Closing costs are relatively low
  4. Closing costs on a HELOC are usually less than half of those on a standard loan.

If you are interested in taking out a home equity line of credit, talk to one of our brokers today.

Why Blue Water Mortgage?
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No Surprises
With over 150 years of collective experience, our mortgage brokers have seen it all. This level of expertise enables us to anticipate and quickly resolve any issues that might arise and close on time, every time.
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Personalized Services
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Competitive Rates
Blue Water is locally owned, so we aren’t beholden to banks. That means we’re able to offer a more diverse portfolio of mortgage products tailored to your specific needs, as well as more competitive rates and lower closing costs.
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