Home Equity Line of Credit

Questions & Answers

Contact our Real Estate Loan Department and we will answer any questions you may have. You can reach us at (303) 573-1170 or toll free at 1-877-293-6328.

You may also click here to apply online.

We offer rates as low as 1% below Prime Rate as published in the Wall Street Journal.

How much equity do I have in my house?
If you own your home, even if you recently purchased it or refinanced it, you probably owe less that what its market value is. The difference between what you owe and what your home is worth is called equity.

How does a Home Equity Line of Credit (HELOC) Work?
A Denver Community HELOC allows you to borrow up to 85% of your home's value, less the balance on your 1st mortgage.

Do I have to use a HELOC for home repairs or remodeling?
No. You can use your line of credit for any purpose, including but not limited to home remodeling. Many people use their line of credit to pay for college tuition, vacations, weddings, automobiles, RV's etc.

Is the interest on my HELOC tax deductible?
Most of the time, the interest on your home equity line of credit is tax deductible, however, we cannot guarantee whether yours is or not. Check with your tax advisor to make sure. We cannot guarantee whether yours is or not.

Do I need to use the entire amount of my HELOC at once?
No. The home equity line of credit is exactly that, a line of credit. You choose how much or how little to use, when to use it and what to use it for. If your HELOC balance is $0, you will not be penalized or charged any fees.

How can I find out more about Denver Community's HELOC?
Simple. You can click here to apply online. You may also call a Mortgage Loan Representative at 303-573-1170 for more information, to check current rates, or to apply. Click here to email a Denver Community representative.

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