Make the Most of Your Home's Equity

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Make the Most of Your Home's Equity

One of the great benefits of buying a home is building equity and using that equity as a financial tool to accomplish your goals.

Do you have projects or financial goals in mind? Now could be the perfect time to tap into your home's equity. You start building equity in your home with your down payment and your first mortgage payment. Over time, you continue to build your home's equity, which you can use to finance home improvements, college and school expenses, debt consolidation, significant events like weddings and more.

Home Improvements

Tackle your list of indoor or outdoor projects. Have you wanted to spruce up your backyard or install a pool? Tap into your home's equity and turn those dreams into reality. Home equity loans and lines of credit are great ways to finance outdoor projects, kitchen remodels, renovations and other home improvements.

College and School Expenses

Do you have a child or family member heading off to college? Are you worried about how to pay for a college education? Home equity loans and lines of credit can be great alternatives to student loans. Student loans can sometimes have higher interest rates than home equity loans and lines of credit. Do not stress about your finances. Instead, look at where your home's equity could take your education funding.

Debt Consolidation

Another excellent use for a home equity loan or line of credit is consolidating any high-interest debt you may have. This will allow you to condense many monthly payments into one simple payment. A home equity loan or line of credit may also have a lower interest rate than your credit cards and other loan options. Tackling debt can be overwhelming but consolidating debt with a home equity loan may be the right solution for you.

Life Events

Are you planning a major life event such as a wedding or expecting a new baby? Home equity loans and lines of credit are great ways to fund these types of milestones. Take advantage of the equity you have built up in your home and use it to finance the wedding or nursery of your dreams!

Borrowing against the equity in your home is a big decision. Your concierge is here to talk through your plans and help you choose a loan product that is right for you. All members have access to their own free, personal concierge. It's their full-time job to help you navigate the details of spending, saving and planning for the future. Talk to your concierge through our mobile app. If you don't have our mobile app yet, visit our mobile banking page to learn more!

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