Banks all over America are in the business of offering home equity lines of credit, more commonly known as HELOC. They've been used by millions of American home owners to get to the kind of credit line they need.
Some of the biggest names in the HELOC game are:
- Wells Fargo Home Mortgage
- Countrywide
- Washington Mutual
- Chase Home Finance
- Bank of America
- CitiMortgage
- GMAC Residential Holdings
- AMRO Mortgage Group
- National City Mortgage
- PHH Mortgage
- Wachovia Corporation
- Holliday Fenoglio Fowler
- GMAC Residential Holdings
- CBRE | Melody
- NorthMarq Capital
- Sonnenblick-Goldman
- Q10 Capital
- CIBC World Markets
- IXIS Real Estate Capital
- Collateral Mortgage Capital
These financial institutions are well known amongst real estate agents and mortgage brokers who work in the refinancing world day in and day out. If you're looking for a home equity line of credit you could very easily come across these names and the names of thousands of other banks and financial institutions that offer HELOCs. As you move forward in your application process, you'll want to do as much research as you can on each one of them to be aware of their strengths and weaknesses, and above all - how they could help you.
It's also very important to be aware that the real estate market and the mortgage industry are at the epicenter of the current economic crisis. HELOCs may be pretty hard to come by these days, given that credit is drying up all over the country, if not the world. That's something to think about as you go forward.
Before you sign anything, make sure you go over all aspects of your application with a financial advisor. You need to know exactly what you're getting yourself into when you get a HELOC.
