If you are a real estate agent, you definitely need to generate high volume leads to attract prospective customers and finally covert into deals. Long before, digital marketing was not having its feet in real estate industry and all as an agent has to do is more like promoting services, distributing pamphlets, calling over the phones and other trivial methods.
HELOC is -Home Equity Line of Credit.
To understand HELOC, we must know what’s an equity and what’s a credit line is?
Equity can be defined as the net value of an asset or simply, Assets -Liabilities = Equity.
Consider you have CAR and the current market price of that CAR is 100,000 $, however you taken a loan against this CAR for 60,000 $, the equity of your CAR would be only 40,000 $.
Now that we understand what an equity is, let’s learn about credit line.
Credit line is also called as facility for a customer, it’s a calculated amount derived based on your credit scores, repayment history, net income, sources of income and many under factors primarily considered during underwriting stage and a credit limit is defined by the bank.