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Explore our educational articles and insights to grow your knowledge.

HELOC: Home Equity Line Of Credit

A HELOC is a revolving line of credit that allows you to borrow against the equity in your home as needed, Know more about HELOC with best HELOC providers in the USA.

The Pros and Cons of a HELOC: Unlocking the Value of Your Home

A HELOC is a revolving line of credit that allows you to borrow against the equity in your home as needed.

HELOC vs. Personal Loan: Which is Right For You?

How much real wealth have you created over the years by owning one or more properties?

Secured vs Unsecured Loans: Updated 2023

Wondering whether a secured or unsecured loan is right for you? This article will help you make the best decision for your financial future.

HELOC for Second Homes: Financing Your Dream Vacation Property

Looking for financing options for your dream vacation property? Consider a HELOC for second homes! With low interest rates, flexibility, and the ability to leverage your existing assets, a HELOC may be the perfect solution for your second home purchase. Learn more today!

Cash Out Refinance vs. Home Equity Line of Credit Explained

The old “cash is king” saying has a lot of truth to it. Yet, most people have their “cash” tied up as illiquid equity in their main home or in rental properties.

Is a HELOC Right For You?

If you’re thinking about getting a home equity line of credit, you have some important things to consider...

The Impact of Debt-to-Income Ratio (DTI) on Mortgage Applications

Learn how Hitch's home equity line of credit (HELOC) can help improve your debt-to-income ratio (DTI) and make it easier to qualify for a mortgage. Apply for a HELOC with Hitch today and access the financing you need to achieve your financial goals.

Renovations, remodeling, and additions loan calculator

If you're planning a home renovation, remodeling, or addition project, using a loan calculator can help you determine how much you should borrow. Hitch offers a convenient loan calculator tool that can help you estimate your monthly payments and find the right loan option for your needs.

The Top Roof Financing Options for Homeowners

Homeowners have several financing options for a new roof, including home equity loans, personal loans, financing through roofing companies, credit cards, and government programs. It's important to carefully evaluate each option before choosing one that best fits your financial situation and needs.

Equal Housing Lender

Hitch, Inc. NMLS #2383367 #2383367

2158 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 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.