HELOC

What can I do with my Home Equity Line of Credit?

Learn How?

With a home equity line of credit, the ways you can use it are endless. The additional funds can go a long way and help you accomplish a lot. Here are the top things people utilize a HELOC for:

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Home Repairs

Most people utilize a home equity line for home improvements because typically, HELOC’s are only tax deductible if the funds are used for your residence. The funds can be used for home upgrades, repairs, and developments.
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Consolidate Debt

A HELOC serves as a great debt consolidation loan. You can pay off your high interest debt (like personal loans and credit cards) and utilize a low interest home equity line instead.
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Create a Cash Reserve

Establishing a cash reserve using your home’s equity can be a great, low interest option as well. You’ll have the line to draw upon if and when you’d need it for emergencies or other sudden occurrences.
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Big Events or Vacations

Some people use a HELOC to plan the perfect wedding, event or vacation. The funds can help you create memories that will last a lifetime!

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*APR = Annual Percentage Rate. Membership eligibility is required. Conditions and credit approval apply. Offers are subject to change or end at any time. HELOC APRs are variable and indexed to the Prime Rate as published in the Wall Street Journal. The maximum APR that may be imposed is 18%. Consult your tax adviser to determine tax benefits, On existing Home Equity Lines of Credit with BrightStar Credit Union, refer to your loan disclosures for complete terms and conditions. New Lines of Credit may be subject to additional conditions and costs. Ask a representative for complete details.