You may have noticed our Home Equity Summer Special being promoted on our website and social media pages this month, and you also may be thinking, “I don’t even know what a Home Equity Loan is!”
A home equity loan is a type of loan in which you can use the equity in your home as collateral. Home equity loans are often used to finance major expenses such as home repairs, medical bills, debt consolidation or college education.
At the Credit Union, we offer a few different Home Equity options to give you the flexibility to choose what’s best for you.
We have a Home Equity Line of Credit, commonly referred to as a HELOC, which is a variable rate revolving line of credit that can be used much like a credit card. Or, we offer a Closed-End Home Equity Loan. This is a fixed rate installment loan which you repay over a fixed term with equal monthly payments.
So go ahead, dream big! If you’re thinking about home improvement projects, landscaping or consolidating debt, come in and see us and we’ll help you turn your dreams into a reality. And, remember that Home Equity Summer Special I mentioned? Now through the end of August, we’ll pay your closing costs on any new Home Equity Loan valued at $10,000 or more.
What are you waiting for? Ask us about a Home Equity Loan, today!
Oh, and did I mention that we have a pretty neat contest going on right now on our Facebook page? If you have a room in your home that could use some updating, share a photo with us for your chance to win a $500 Home Depot gift card. Click here