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Michael Tennant

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Michael Tennant
What happens if I can't repay my home equity line of credit?

For those considering a HELOC or any other mortgage-related products, Tennant Lending offers expert guidance and a range of loan options to fit your needs.

How does a HELOC affect my credit score?

The short answer is yes, a HELOC can affect your credit score. However, the long term impact can be positive, depending on how you manage the account.

Are there tax benefits to using a home equity line of credit?

The interest you pay on a home equity line of credit may be tax-deductible, but there are specific conditions that must be met.

What should I consider before taking out a HELOC?

it’s crucial to understand the intricacies of HELOCs, their benefits, and potential pitfalls.

Can I refinance my HELOC if interest rates drop?

Refinancing your HELOC can be a strategic financial decision, especially in a favorable interest rate environment. By understanding your options and working with a trusted lender like Tennant Lending, you can make informed choices that align with your financial goals and needs.

How often can I draw funds from my home equity line of credit?

A HELOC offers a flexible and convenient way to access the equity in your home, but it's essential to understand the terms, especially the draw period and how often you can borrow.

How do I apply for a home equity line of credit?

Navigating the process of applying for a HELOC can seem daunting, but with the right preparation and guidance, it can be a smooth and beneficial experience.

What is the draw period for a typical HELOC?

A HELOC offers a versatile and flexible financing option for homeowners, with the draw period serving as a critical component of its structure. Understanding how this period works, its typical timeline, and how it affects your financial obligations is essential.

ADUs for family and or parents or to generate extra income

Accessory Dwelling Units (ADUs) are becoming increasingly popular among homeowners for their versatility and potential to serve multiple purposes.

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Michael Tennant, a licensed mortgage professional (NMLS License #1404861), operates as a net branch of MortgageRight (NMLS License #2239). The domain name "tennantlending.com" is owned by Michael Tennant and is not associated with a separate mortgage company. This website aims to provide informative content and pre-qualification services to prospective borrowers.