What Is a Flex Heloc

What is it? A FlexEquity® HELOC 1 is a revolving form of credit that uses your home as collateral. Borrow against it and pay it back as many times as needed in the draw period.

What is a flex Heloc loan?

It’s a variable rate line of credit with a fixed-rate option. So when you need money for home improvements, debt consolidation, large purchases, or emergencies, you can easily access the funds you need, and save by locking in the rate.

Can you reuse a HELOC loan?

There are pros and cons, but one of the best things about a “HELOC” is that you can borrow and pay as you go. A home equity line of credit is a type of home equity loan, but it’s more flexible than a regular loan. … It’s not open-ended, but you can pay off and reuse the credit again and again.