You’ve purchased a home in your dream neighborhood and you're slowly but surely fixing it up to make it absolutely perfect. Perhaps you’re adding a deck, pool, or doing a kitchen remodel. All of these things can impact your budget, so how will you pay for them? Perhaps a home equity line of credit (HELOC) is a way to check some things off your list and make your home perfect.
A HELOC with the approved loan amount operates like a credit card. For example, if approved for a HELOC of $10,000, someone can make several purchases, pay down the balance and continue to make purchases, as long as they remain under the loan limit. These loans generally have an adjustable-rate and their interest payments are tax-deductible. Many HELOCs are also second mortgages, but they do not have to be - they can be used to refinance your existing mortgage, or could be your first mortgage if you no longer have one on your home.
Learn more about HELOC’s on Metro Credit Union’s free Save and Succeed financial resource, then give us a call at 402-551-3052 and be thrilled at just how low your payment can be. Our Personal Bankers can find the home equity loan that's right for you and give you quotes on current interest rates and closing costs. It may be hard to choose the right tile for your new bathroom or right cabinets for your kitchen, but finding the right HELOC lender is easy. We are your local advantage. You can also click here for more information.
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