Frequently Asked Questions

What is a HELOC?

A HELOC (Home Equity Line Of Credit) is a mortgage that allows you to borrow against the value in your home.

What are some of the problems with traditional HELOCs?

Traditional HELOCs are complicated, with a set of rates that frequently change and can make it hard to understand how much you are really paying for credit. These products may use “teaser rates” that can mislead consumers into taking on more debt than they should. Also, with a traditional HELOC, you may be faced with “payment shock”, because your payments can suddenly increase significantly, or you may be required to pay off your balance all at once. Finally, traditional HELOCs may result in borrowers getting further into debt.

How is the Lendage HELOC different?

The Lendage HELOC is designed for everyday Americans, like you, who want to improve their financial health by using the value in their home to reduce high rate debt and lower their payments. We work with you to understand your specific financial situation and craft a solution that is clear, predictable, and a good choice for you.

How much can I borrow?

Our program offers HELOCs up to $150,000. The amount you can borrow depends on your specific circumstances. When you apply for a Lendage HELOC, we take the time to talk with you about your debts, income, and needs, so that we can determine a borrowing amount and payment that is right for you.

What are the interest rates for a Lendage HELOC?

Interest rates will be dependent on multiple different factors. Please call us at (844) 606-9533 or apply online for specific rate details.

What you should know about Home Equity Lines of Credit

Click the button below to download an information booklet from the Consumer Financial Protection Bureau (CFPB) about HELOCs.

Download Booklet