Your home can mean so many different things to you: home is where the heart is; home sweet home; home is where you hang your hat; there’s no place like home.
If you own a home and it’s worth more than the remaining balance on your mortgage, you have equity. If you have equity, you can apply for a Home Equity Line of Credit (HELOC)1.
A HELOC is a revolving line of credit that you can draw on, pay back, and draw on again for a set period of time.
And if you think you can only use a HELOC to pay for home improvements like landscaping or pool installation, think again. Your Home Equity Line of Credit can be used to pay for any purchases you have coming up, including:
As Youth Month at VacationLand Federal Credit Union draws to a close, we encourage you to continue teaching your children about saving, giving, earning and spending.
Kids aren’t don’t get a lot of financial education in school, so when they become adults they just wing it and take care of financial matters as best they can. We’ve all been there, but it’s never too early – or too late – to learn sound financial habits!