Your house can help make good things happen
Sure, you can use your Home Equity Loan for home improvements - build an addition, upgrade the kitchen, or make a splash with a new pool. But you can also use the cash for countless other things, from a Caribbean cruise to a motorbike to a business venture. You're limited only by the value of your home - and your imagination.
- Maximum loan amount depends on the equity you have in your home. (Equity is the current market value minus your remaining mortgage balance.)
- Money can be used for almost any purpose
- Repay loan in equal monthly installments
- Competitive rates and loan lengths
- Funds may also be used to pay down higher interest loans or credit card balances
Here's something to look into: Annual interest payments on your Home Equity Loan may be tax-deductible. It's best to consult your tax advisor for more information.