Put your home’s equity to work for you.
Equity is the difference between the appraised value of your home and what you owe on your mortgage. Your home’s equity can be made available to borrow against.
A home equity line of credit is a revolving credit line that allows you to use the equity you have in your home for just about anything. You can pay off credit cards, remodel your house, consolidate debt, finance a college education, go on a vacation… the list goes on! As you pay back your loan advances, those amounts again become available to borrow! (Suh-weet!)
Here’s what you get with a home equity line of credit:
- Low minimum payments
- Only pay on the funds you use
- No prepayment penalties
- No annual fee
- Potential tax advantages*
Not sure if a home equity line of credit is for you? Our super-savvy loan specialists are always willing to help you work the numbers and guide you through your decision-making. Just give us a call at (319) 892-7300.
See what the going rate is for a HELOC with Linn Area Credit Union.
We all get a free copy of our credit report every year from each of the three credit reporting agencies.