HELOC Power – A Homeowner’s Financial Secret Weapon

Back to Financial Insights

Becoming a homeowner is a major financial move. Once you’ve settled in, it’s important to know that the equity building up in your home can convey certain “super” powers that, when tapped, can unlock the way to your financial goals.

What are these powers? I’m glad you asked…

Debt Reducing Power

Life happens and when it does, debt often comes with it. Be wary of high interest credit cards and other unsecured debt obligations that can slow or even prevent you from moving forward in your financial journey. On the other hand, a Home Equity Line of Credit (HELOC), backed by the value of your home, gives you the power to consolidate that debt with a better interest rate or lower monthly payments (sometimes both!) or avoid it in the first place.

Home Improvement Power

Life changes and when it does, sometimes the house needs to change with it! Whether you are turning your forever home into your dream home or making some upgrades to test the market, a HELOC can offer you the financial firepower to fund these projects.

The Power To Save (For) The Future

One of the underrated ways that a HELOC can power up your finances is the flexibility to serve as an emergency fund or super-charged savings source. If your financial forecast includes sending kids off to college or similar expenses, your home equity line can be like a trusty sidekick, ready and available when those needs arise.

When you’re ready to use your equity to boost your financial power with a Home Equity Line of Credit, give us a call at 804-274-1200 or visit a branch today to learn more or get started.

Back to Financial Insights

Share this post

Related Content

May 30, 2017

Graduation Presents and Wedding Gifts: 8 Money Saving Tips for June

As we get ready for summer vacations and the last day of school, June also signals the start …

Read More about Graduation Presents and Wedding Gifts: 8 Money Saving Tips for June

August 22, 2017

Ask Call Federal - Back to School Savings

We're wrapping up our vacations and our seasonal staff is heading back to campus... summer is fleeting and …

Read More about Ask Call Federal - Back to School Savings

September 27, 2017

What are Alternatives to Payday Loans?

Payday loans are easy to set up, but can quickly turn into a problem debt. These loans don’t …

Read More about What are Alternatives to Payday Loans?