Hitch Logo

Learning Center

Explore our educational articles and insights to grow your knowledge.

Discover Hitch: The Ultimate Digital HELOC Solution for Homeowners

Explore Why Hitch is the Best Choice for a Seamless and Convenient Home Equity Line of Credit Experience

Financing Options for Pole Barns and Metal Buildings

Hitch empowers you to choose the best financing rates for your metal building project with its extensive network of lenders. Sort through financing options based on your priorities and join satisfied customers who have achieved their dream projects with Hitch.

Home Equity Loan or Line of Credit for Debt Consolidation

Home equity loan/line of credit: Consolidate debt by using your home's equity. Lower rates...

Bank: 2023 Home Equity Review

In 1863 United States Bank was the first nation bank in Cincinnati and is the fifth most popular commercial banking system. Its headquarters are located in Minnesota and has 220 branches across 26 states. The bank also provides mortgage and refinance products, as well as home equity credit lines.

Maximizing Your Mortgage Knowledge: APR vs. Interest Rate

Discover the difference between APR and interest rate with Hitch. Compare mortgage options and make informed decisions on your home financing.

How to use Hitch to upgrade your home

Transform your home with ease using Hitch. Connect with vetted professionals and manage your project hassle-free. Upgrade your living space today.

Safeguarding Your Finances: The Power of Credit Freeze

Safeguarding Your Finances: The Power of Credit Freeze

A Step-by-Step Guide to Modifying Your Payment Due Date

In need of greater convenience or flexibility with your bill payments? Discover how to modify your payment due dates effortlessly.

Reverse Mortgages, Home Equity Loans And HELOCs: A Guide

As a youngster your fixed income may become a problem. In this case, you can use home equity. Often, you compare reverse mortgages with home equity. Other choices that may be available to homeowners include Home Equity Loans (HELOCs). Let us talk about your options so we can determine how to proceed.

Fixed-Rate HELOC Pros and Cons

Fixed-Rate HELOCs, or Home Equity Lines of Credit, have both advantages and disadvantages.

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.