Gershman Mortgage Launches 5-Day HELOC, Giving Homeowners Fast Access To Cash Without Touching Their Current Rate
Gershman Mortgage announced its 5-Day HELOC, a standalone home equity line of credit built for homeowners who want to put their equity to work fast, without giving up the mortgage rate they already have.
According to ICE, there’s an estimated $11 trillion in home equity available to borrowers. Gershman’s 5-Day HELOC gives homeowners a fast way to access it.
“Plenty of homeowners have built up real equity, and a lot of them don’t want to touch their first mortgage to use it. This HELOC gives them a way to quickly tap that equity for renovations, tuition, paying down credit cards, or whatever they need,” said Jeff Ogden, Senior Vice President of Production at Gershman Mortgage.
The 5-Day HELOC lets qualified homeowners borrow up to $750,000, with term options of 10, 15, 20, or 30 years. The application process is fast and straightforward. A Gershman Mortgage loan officer walks borrowers through the process and can often handle the application on their behalf. No hard credit inquiry is required to get started. Once approved, closing can follow in as few as five business days.
Homeowners are using the funds for everything from home improvements and debt consolidation to major purchases and unexpected expenses. And in many cases, the rates on a HELOC come in lower than what borrowers would pay on a personal loan or credit card.
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