What Can My Home Equity Do For Me?

Loan Originator Dianna Goodfellow joins me to translate some mortgage lingo.

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I recently had the pleasure of sitting down with Dianna Goodfellow of Professional Mortgage Source to discuss the lingo that folks in the mortgage industry commonly use. By sharing this conversation with you today, it’s our hope that you’ll better understand some key terms and feel a bit more empowered when talking to a loan officer about your loan options.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:

0:53 — What the heck is a HELOC?

2:21 — How do I qualify for a HELOC, and how much can I borrow?

3:31 — How long will it take to open up a home equity line of credit?

4:37 — Understanding the differences between pre-qualification, pre-approval, and approval

6:30 — Wrapping up today’s topic

I hope you found these explanations to be helpful. If you have questions or comments about anything Dianna and I discussed in this blog, don’t hesitate to reach out to us via our respective contact info displayed in the video above. As always, if you or anyone you know could stand to benefit from our real estate services, please get in touch. Also, be sure to head over to our social media pages and click that “like” button to be entered for a chance to win a $25 Amazon gift card!

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