What Can Your HELOC (Home Equity Line of Credit) Do For You?
Wondering how you can make the equity in your home work for you and your family? Here are four ways a HELOC can help you reach your goals.
“I want to be prepared in case of an emergency.”
The rule of thumb for an emergency fund in enough to cover 3 or 6 months’ worth of living expenses. If you’re still saving to hit this mark, a HELOC can help for any unexpected expenses.
“I’d like to renovate my bathroom.”
Remodeling a bathroom can offer up to a 70% return on your investment1 when it comes time to sell your home.
“I’d like to pay off credit card debt.”
Debt with high interest rates, like student loans and credit cards, can be consolidated with your HELOC. This helps you save on the amount of interest you pay and simplifies your payments.