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Debunking HELOC Myths in 2025: What Banks Don’t Tell You

A HELOC (Home Equity Line of Credit) can be a powerful financial tool — but only if you understand how it really works. In this video, Peter and Jason break down the 5 biggest HELOC myths that cost homeowners thousands of dollars every year.

👉 Whether you’re considering a HELOC, HELOAN, or refinancing, this episode will help you avoid the most common mistakes, understand lender restrictions, and learn how to use home equity wisely.

💡 What You’ll Learn in This Video:
-Why not all HELOCs are created equal (fixed vs variable, 5-year vs 10-year draws)
-The truth about equity access: why banks cap you at 80–90%
-How payment shock works — and how to avoid it
-The right vs. wrong ways to use a HELOC (renovations, debt consolidation, investing)
-When HELOC interest may be tax-deductible — and when it’s not

🔑 This video is for you if you want to know:
-How much equity you can really access with a HELOC
-Whether a HELOC is better than a refinance or HELoan
-What mistakes homeowners make that get them denied
-How to avoid mid-construction financing nightmares
-When HELOC interest can actually save you money

📢 Don’t get blindsided by myths. Get the facts and make smarter decisions about your home equity.

📈 Whether you’re planning a home renovation, consolidating debt, or investing in real estate, this breakdown will help you know your number before applying. The Clear Close has helped hundreds of homeowners safely tap into their home equity. Use the links below to schedule a call with The Clear Close:

📅 Schedule a 1-on-1 call: https://apply.theclearclose.com/meet
📈 Learn about DSCR & Non-QM: https://www.getclearclose.com/cc-dscr...

Chapters:
00:00 Intro – Why HELOC Myths Cost Homeowners Big
01:19 Myth #1 – All HELOCs Are the Same
04:00 The Hidden Risks of 10-Year Draws
05:45 Fixed vs. Variable HELOCs: The Truth Banks Skip
07:47 Myth #2 – Equity Alone Qualifies You for a HELOC
09:57 The Reality of Lender Caps & Access Limits
12:16 Why “Equity on Paper” ≠ Cash in Hand
13:59 Myth #3 – HELOC = Free Spending Account
15:21 The Right vs. Wrong Uses for HELOC Funds
16:23 Myth #4 – HELOCs Have No Tax Benefits
18:40 When HELOC Interest Can Be Deductible
19:38 Mistakes That Kill Your HELOC Approval Mid-Project
21:08 The Moral of the Story – What to Do Before You Apply

Questions we answer:
How do I get out of a HELOC?
What’s the fastest way to pay off a HELOC?
Can I refinance a HELOC in 2025?
How does paying extra toward HELOC principal help?
Should I sell my house to pay off a HELOC?
What are the best HELOC payoff strategies?
Is refinancing into a new HELOC a good idea?
Can I convert a HELOC into a fixed-rate loan?
How do prepayment penalties work on HELOCs?
Is a cash-out refinance better than a HELOC?
How can investors use HELOCs wisely?
What’s the difference between HELOC vs HELoan?
Should I pay minimum payments on my HELOC?
How do rising rates affect my HELOC payments?
Can I use a HELOC for long-term investing?
How much does an extra $200 save on a HELOC?
What happens when a HELOC draw period ends?
How do I reset my HELOC?
Can a HELOC hurt my credit score?
What’s the best way to exit a HELOC in 2025?

The Clear Close (DBA of West Capital Lending, Inc.) is an Equal Housing Lender; NMLS - 1566096
Jason Kim - NMLS 1680429 | DRE 02178073
Peter Ahn - NMLS 2664403 | DRE 02252395

https://westcapitallending.com/licensing
https://westcapitallending.com/texas-...
https://nmlsconsumeraccess.org

HELOC을 어떻게 갚을 수 있나요?
HELOC을 가장 빨리 상환하는 방법은 무엇인가요?
2025년에 HELOC을 재융자할 수 있나요?
HELOC 원금에 추가 상환하면 어떤 효과가 있나요?
HELOC을 갚기 위해 집을 팔아야 할까요?
HELOC 상환을 위한 최고의 전략은 무엇인가요?
새로운 HELOC으로 재융자하는 것이 좋은 선택인가요?
HELOC을 고정금리 대출로 전환할 수 있나요?
HELOC의 조기상환 수수료는 어떻게 작동하나요?
현금 인출 재융자가 HELOC보다 나은가요?
투자자들은 HELOC을 어떻게 현명하게 활용할 수 있나요?
HELOC과 HELOAN의 차이는 무엇인가요?
HELOC에서 최소 상환금만 내도 괜찮을까요?
금리 상승이 HELOC 상환금에 어떤 영향을 주나요?
HELOC을 장기 투자에 사용할 수 있나요?
매달 200달러 추가 상환 시 HELOC에서 얼마나 절약되나요?
HELOC 인출 기간이 끝나면 어떻게 되나요?
HELOC을 리셋하는 방법은 무엇인가요?
HELOC이 신용 점수에 악영향을 줄 수 있나요?
2025년에 HELOC을 종료하는 최선의 방법은 무엇인가요?

Disclaimer:
The information provided in this video is for educational and informational purposes only and should not be considered financial, legal, or investment advice. While we are licensed mortgage and real estate professionals, the content here is general in nature and may not apply to your specific situation. Always do your own research and consult with a qualified professional before making any financial decisions. By watching this video, you agree that we are not responsible for any financial outcomes based on the information provided.