Discover Your Home’s Potential
July 13, 2022 | News
With a MembersOwn Home Equity Line of Credit (HELOC), you can easily finance your dreams with your home’s equity.
How to Discover Your Home’s Potential
If your bathroom looks like a time capsule from 1995, it might be time to upgrade – and with a MembersOwn Home Equity Line of Credit (HELOC), you can easily finance your dreams with the equity your home has built up.
The Federal Trade Commission defines equity as the difference between what you owe on your mortgage and how much money you could get for your home if you sold it. A HELOC is a loan that’s secured by the home and uses its value as collateral.
The good news is that with a HELOC, you only pay interest on the amount of money you use. This makes a HELOC similar to a revolving line of credit that you can draw on as needed, like a credit card.
People use HELOCs for all sorts of things, such as:
- Medical bills
- Consolidating debt
The possibilities are endless, but as always, it’s all about you.
Contact our lending specialists today and we’ll help you save time and money by finding the best loan option.
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