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Home Equity Line of Credit
07/03/2024
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.