Open the door to a better way to borrow.
Has your home increased in value? Put that equity to work with a home equity line of credit (HELOC) from United Trades Federal Credit Union. With it, you can borrow the money you need that you can use for virtually any purpose—to make home improvements, to pay down debt, or for any other big-ticket expense.
There are plenty of advantages to a United Trades FCU HELOC, including:
- Flexibility to access the money in your line, when you need it—and to reuse that money once you pay back what you borrow.
- The interest you pay may be tax deductible (consult your tax adviser).
- Rates are typically better than you might receive from a personal loan.
- Because it’s secured by your home, it may be a good option if you have less than stellar credit.
Before you make the decision to take out a home equity line of credit, consider these questions:
- Is your current mortgage(s) less than 80% of your home’s current value?
- Do you know how much money you want to borrow?
- Do you need an emergency reserve, or will you be using all of the money at once?
Think a HELOC from United Trades FCU may be right for you? Contact us and a United Trades FCU Financial Coach can help you decide.
Want to do the math first? Check out our handy calculators.