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Aug 11, 2023

Make Your Home Bloom This Spring with a HELOC

<img src="/images/default-source/blog-article-images/house874e7ce0-f032-4ded-9363-0312e8d4103e.png?sfvrsn=970e3620_1" sf-size="100" alt="" /><p>You’ve probably heard the saying, “April showers bring May flowers.” Spring is the perfect season to refresh both your space and your finances. You can add appeal to your home by planning a major renovation or making a few simple upgrades.</p><p>Metro Credit Union’s<a href="/loans/heloc" target="_blank"> Home Equity Line of Credit (HELOC)</a> gives you flexible access to your home’s value to fund your projects. With a competitive rate and easy access to funds, you can start bringing your vision to life this spring. </p><h3>WHY USE A HELOC FOR HOME IMPROVEMENTS?</h3><p>Homes are likely to be the biggest investment and asset that most people will ever own. Using your home equity to fund improvements is a smart way to increase its value and enjoy the upgrades now. Many people choose to invest in renovating existing rooms or adding more usable space, If you want to sell your home, but the house needs updates before you can put it on the market, a HELOC might be a great fit for expanding your budget and maximizing your options.</p><h4>A HELOC gives you flexible access to cash, for projects like:</h4><ul><li>Building a new deck, patio, or pool</li><li>Adding a pool or landscaping upgrades</li><li>Renovating your kitchen or bathroom</li><li>Finishing a basement or attic for more living space</li><li>Making updates before putting your house on the market</li></ul><img src="/images/default-source/blog-article-images/kitchen-reno23a41195-1e6e-4150-b39f-abc70042ca51.png?sfvrsn=e3377f0f_1" sf-size="100" alt="" /><h3>WHAT IS A HOME EQUITY LINE OF CREDIT?</h3><p>A home equity line of credit works like a credit card, but with lower interest rates and higher borrowing limits. You can tap into the line multiple times during the draw period, repay them, and borrow again during a set draw period.</p><p>When home prices increase, homeowners may have more equity in their homes and are treated to more borrowing power through a HELOC. Explore how much you could borrow using Home Equity Line of Credit calculator.</p><h3>THE BENEFITS OF A HOME EQUITY LINE OF CREDIT </h3><ul><li>Ideal for both planned expenses and unexpected repairs</li><li>Lower interest rates than most personal loans or credit cards</li><li>Flexible access to funds when you need them</li><li>Potential for interest to be tax-deductible (consult a tax advisor)</li></ul><h3>FIXED OR VARIABLE RATE HELOC</h3><p>When applying for a HELOC, you’ll need to choose between a rate that can change over time and one that stays the same. To understand the differences and decide which is right for you, visit our latest blog post.</p><h3><hr />WHY CHOOSE METRO CREDIT UNION?</h3><p>Metro’s HELOC comes with competitive rates, simple terms, fast approvals, and personalized service. A Home Equity Line of Credit could be just what you need to cover a major expense without jeopardizing your credit or racking up debt on high-interest credit cards. Tap into Metro’s HELOC to enjoy the flexibility and financial support you need.</p><p>Understand how to manage your HELOC responsibly and learn how to make the most out of your house through Save and Succeed, Metro’ personal finance program. </p><p><a href="/loans/heloc" target="_blank">Apply online</a> today and let your home bloom this season.</p>

Is your family looking to update your backyard with a pool, patio or deck? If you want to sell your home but your house needs updates before you can put it on the market, a HELOC might be a great fit.

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