How Does the Automated 5-day HELOC Work? Home equity lines of credit are great loan options because of their low-interest rates and the borrower’s ability to withdraw money as needed over the HELOC draw period. The Automated 5-Day HELOC offers borrowers an easier way to acquire one.
The main purpose of these loans is to help the borrower reduce their monthly debt. While most credit cards are at a 20% to 30% interest rate the HELOC is between 7% and 14% depending on a home’s loan to value.
