Hitch Logo

Learning Center

Explore our educational articles and insights to grow your knowledge.

How to Use Your Home Equity to Pay Off Student Loans | Freedom Debt Relief

In the event that you have trouble paying off college debts, you can take advantage of a home equity loan. But, there are some benefits to consider when applying for student loans. This article will give you an outline of how to apply for loan forgiveness using your own home.

Texas Home Equity Laws and Restrictions: Why HELOCs are Uncommon in the Lone Star State

Understanding the Legal Limitations Surrounding Home Equity Lending in Texas

The Ultimate HELOC Solution for Texas Homeowners

Discover Why Hitch is the Top Choice for Home Equity Lines of Credit in Texas

Mastering Your Midyear Finances: Essential Tips for a Successful Financial Checkup

Master your midyear finances with these essential tips for a successful financial checkup.

Understanding Different Types of Mortgage Loans and Options

Hitch helps you understand and choose the right mortgage loan for you among different types and options.

Navigating an Economy in Transition: A Comprehensive Guide to Understanding and Adapting

Discover the secrets to navigating and thriving in an economy undergoing a significant transition.

The Federal Funds Rate: A Guide to Understanding and Its Impact on the Economy

Discover the significance of the Federal Funds Rate and its impact on the economy.

Can You Use a Home Equity Loan to Start a Business?

Using a home equity loan to start a business offers potential financial support, but careful evaluation of risks and benefits is essential.

Exploring the Pros and Cons of Guaranteed-Rate HELOCs

Pros and cons of guaranteed-rate HELOCs: stable payments but higher interest rates and limited flexibility. Consider before choosing.

Transform Your Living Space: The Ultimate Guide to Home Remodeling

From defining your vision to hiring professionals, establishing a budget to selecting materials, we provide expert tips to ensure your remodeling project is a resounding success.

Equal Housing Lender
Hitch, Inc. 23833672158 NW Toussaint Drive. Bend, Oregon 97703

1. Qualified applicants may borrow up to 95% of their home’s value. This does not apply to investment properties.2. HELOCs have a 10-year draw period. During the draw period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) the total of all accrued finance charges and other charges for the monthly billing cycle. During the draw period, the monthly minimum payments may not reduce the outstanding principal balance. During the repayment period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) 1/240th of the outstanding balance at the end of the draw period, plus all accrued finance charges and other fees, charges, and costs.The lender will calculate this amount by taking the outstanding Account Balance on the last day of the draw period and dividing it by 240 months and then adding any finance charge that accrues but remains unpaid during the monthly billing cycle plus any other fees, charges and costs to the fixed principal payment that is due. During the repayment period, the monthly minimum payments may not, to the extent permitted by law, fully repay the principal balance outstanding on the HELOC. At the end of the repayment period, the borrower must pay any remaining outstanding balance in one full payment.3. The time it takes to get cash is measured from the time the Lending Partner receives all documents requested from the applicant and assumes the applicant’s stated income, property and title information provided in the loan application matches the requested documents and any supporting information. Most borrowers get their cash on average in 21 days. The time period calculation to get cash is based on the first 4 months of 2024 loan funding's, assumes the funds are wired, excludes weekends, and excludes the government-mandated disclosure waiting period. The amount of time it takes to get cash will vary depending on the applicant’s respective financial circumstances and the Lending Partner’s current volume of applications. Closing costs can vary from 3.0 - 5.0%. An appraisal may be required to be completed on the property in some instances.4. Not all borrowers will meet the requirements necessary to qualify. Rates and terms are subject to change based on market conditions and borrower eligibility. This offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend.5. The content provided is presented for information purposes only. This is not a The content provided is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.