COURTESY OF DOWNEAST CREDIT UNION
Tap into the equity of your home this fall with a Home Equity Line of Credit. Downeast Credit Union is offering 1.00% off the qualifying rate plus no closing costs to their Loyal Members who have an active checking account. If you aren’t yet a Member of Downeast, it’s easy to become one and earn the Loyal status right off.
“We often suggest adding a HELOC to your financial portfolio — it can be a great option to fall back on in emergencies like your furnace needs to be replaced or you need a new roof,” states DECU Mortgage Loan Originator, Carly Kneeland. “And don’t worry if your Mortgage Loan isn’t with DECU, we can still look at opening a Home Equity at Downeast.”
A Home Equity Line of Credit is a type of loan secured by the equity in your home, similar to a revolving line like a credit card. You can borrow against the available equity in your home, and as you repay the outstanding balance, the amount of available credit replenishes. You can borrow funds as needed, making it a great option for ongoing expenses like home renovations or tuition. Plus, the interest paid on a HELOC may be tax-deductible so you’ll want to check with your tax advisor for eligibility.
Here are five ways to use a HELOC this fall:
Home Sweet Home — Give your home a makeover with renovations and upgrades to add value, function and charm.
Don’t Be Left in the Dark — Invest in a backup generator or solar power to keep the lights on through all the winter storms that will be heading our way.
Make a Splash — Turn your back yard into the oasis of your dreams with a new hot tub to keep you warm all winter.
Vacation Memories — Cherish time traveling on a family vacation and make memories that last a lifetime.
Take Control of your Finances — Consolidate higher-interest loans or credit cards and work your way to being debt-free.
“We’ve recently seen a lot of Members using their DECU HELOC to pay off credit card debt,” adds Kneeland. “Since HELOC rates are typically lower than credit card rates, it can be a great option to consolidate. I just saved a family $18,800 in credit card interest plus another $530 in closing costs with a Loyal Member HELOC.”
Learn more so you can enjoy 1.00% off your Home Equity at www.downeastcu.com/heloc.
