The ULTIMATE HELOC Guide - Home Equity Line of Credit Explained

It has been over 2 years since I started producing HELOC Content, but a lot has changed. In this video I share the ultimate HELOC Guide and explain simply what a Home Equity Line of Credit is, how to apply for a HELOC, what to use it for, what not to use it for, as well as whether or not you should be applying for a HELOC. I also share my 3 rules for how to use your HELOC safely and effectively in order to build wealth.

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[skoopqueen]

I didn’t achieve financial freedom until I turned 40. As a US citizen, I raised capital by taking out a home equity loan. The interest rate was much lower than other loans, which made it a smart choice. With patience and discipline, I reinvested my earnings and avoided impulsive decisions. This strategy helped me grow my wealth, eventually allowing me to buy a new home and a car. If you’re looking to raise capital and achieve financial freedom, consider this approach.

[MellaBC]

I watched so many videos about HELOC and still didn't understand it completely until I watched tour videos. This is amazing. Thank you

[anthonytoma]

Thanks! I had 12 windows opened to learn more about a HELOC and after watching your video there was no need to watch the others. You covered everything perfectly. Thanks for saving me time.

[michelleosborne]

We have several repairs that are needed. The roof need replaced & our home owners insurance didn't want to pay for the roof leaks. Our heat pump quit working years ago. There are a few other things needing done. We are discussing renting out some rooms as we are empty nesters in a big house.

[rafaelgomez]

🎉 GREAT advice, tips and overall Info !!!! Thank you so much

[lorenzogadson]

Dude is very informative…. The first one to explain a Heloc in full details that I can understand!!!

[HugoBobea]

Finally a good video about this topic.

[tempiedunn-pvtf]

I just completed my application today and still feel a little nervous about the whole thing, but l am thankful that l listened to your video

[Patricia-bhrw]

Thank you Jay, it is a very informative video, I just submitted an application this week. Now I know the pros and cons. 😊

[nicole]

Great Video! Thank you for sharing. 🙌🏽😊

[sohanhargobind]

Very informative Video my friend. Thx

[skabettispaghetti]

Thanks so much. I want to finish off my basement. I actually have the cash/investments to do it, but my financial advisor advised me to look into HELOC's. Any input on this idea?

[Lion-qiej]

Great content. Thank you. I’m subscribed. Can I use a HELOC against a second home for my child’s college education? Also, timing wise should I move on it now when she’s not stating college until Fall 2025? Thank you. You have a follower.

[viscabarcaa]

Having equity in your house is not waste

[persymendez]

Great video. I’m also in NJ. Any credit unions in NJ or Bergen that you recommend? Greatly appreciate it. Thanks.

Thank you, your information is great, 👍🏼

[ptrkrbrdy]

Rental unit needs structural help at the front porch/balcony. 90% demo and then rebuild. Only have half the amount needed to fund the project but that is kind of out safety net fund. Bottom unit covers mortgage.. 30-40% of upper unit rent would cover HELOC monthly payments.. would you recommend heloc?

[williy]

Could you still take a HELOC if you don’t have a mortgage anymore.

[aprilbrown]

I purchased a property cash on the auction $6k in Ohio. But it needs to be rehabbed. Do you have any recommendations for lenders that would lend in that area for this type of scenario.

[rosamariamaldonado]

Hey Jay I hsve paid 2 time late my mortgage and they told me that disqualify me I just ask 1 lender😮 those is true I have everything else