HELOC Loans

A HELOC (Home Equity Line of Credit) is a type of loan that lets you borrow against the equity in your home—similar to using a credit card but secured by your property.

What is a HELOC?

HELOC = Home Equity Line of Credit
It's a revolving credit line, not a lump-sum loan
You borrow as needed, up to a set credit limit, and repay over time
Based on the available equity in your home (usually up to 85%)

Key Features

Revolving credit- Like a credit card—you can borrow, repay, and borrow again
Draw period- Typically 5–10 years (borrow and pay interest only)
Repayment period- Usually 10–20 years after the draw period ends (repay principal + interest)
Variable interest rate- Rate can change over time based on market conditions
Interest-only payments- During the draw period, payments may be interest-only

Common Uses

Home renovations
Debt consolidation
College tuition
Emergency expenses
Business funding

Whether you're planning home improvements, consolidating high-interest debt, covering education expenses, or simply want flexible access to your home's equity, a Home Equity Line of Credit (HELOC) can be a smart financing solution. At Riviera Mortgage Group, we're committed to helping homeowners find the right loan for their financial goals. Our experienced mortgage professionals will explain your options, answer your questions, and help you determine if a HELOC is the best fit for your needs. Contact Riviera Mortgage Group today to learn more or begin your application.

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