You’ve worked hard to become a homeowner. So you want to make smart decisions on how to use home equity so you can get the most out of your money.
With a home equity loan or home equity line of credit (HELOC) you can use your home’s equity to pay for major expenses, such as:
- Debt consolidation
- Home improvements
Use home equity to consolidate debt
Since equity loans and lines of credit can often carry lower interest rates, using home equity for debt consolidation might be a smart decision for you. Use your loan or line of credit to pay off credit cards, student loans or a car loan. You’ll consolidate debt and possibly get a lower interest rate.
Use home equity to invest in your future
Use your home equity line of credit or loan to finance a college education. Tapping into your home’s equity to pay for your tuition allows you to capitalize on the long-term benefits of higher education.
Use home equity to invest in your home
If you’ve been wanting to renovate your house, using equity to pay for home improvements may be a wise choice for you. You’ll be taking the equity out of your home and investing it back into your home by adding valuable renovations.
Once you decide how to use your home’s equity, get started with our simple online application to begin financing your goals.