SMW Blog

Are you thinking of remodeling your home? Now’s a great time to get a Home Equity Line of Credit (HELOC) to help you finance a renovation or remodel.

Here are just some of the changes you can make:

• Add more living space: Open up your kitchen, add a nursery, update your bathrooms, or turn your bedroom into a master suite.
• Personalize to fit your lifestyle: Add a three-season porch or a swimming pool.
• Become more energy efficient: Replace your roof or windows or add solar panels.

The advantages of using a HELOC include:

• Potential tax benefits: Home equity interest payments are generally tax-deductible.
• Lower monthly payments: Interest rates on HELOCs are typically lower than credit card or personal loan rates.
• Greater financial control: With a HELOC, you withdraw and pay interest on only what you need when you need it.