Consumers home loans

We’d love to help you with a mortgage or home equity line of credit.

A festive look at the many ways to use a home equity line of credit.

If your home equity line of credit hasn’t been used in a while, you might be overlooking the many ways you could use it to enjoy life more and reach your goals. In honor of the holidays, we’re sharing the Twelve Days of HELOCs!

🎶🎵🎶🎄

On the twelfth day of Christmas,
my HELOC gave to me
Twelve roofers roofing,
Eleven plumbers plumbing,
Ten yards of carpet,
Nine sliding windows,
Eight rooms remodeled,
Seven days of vacay,
Six cards a-paid off,
Five golden rings,
Four surprise gifts,
Three new cars,
Two sets of braces,
And a four-year college degree!

🎶🎵🎶

While most folks won’t be making this many big purchases during the twelve days of Christmas, they will save when financing purchases with a HELOC.

Lower interest on HELOCs

One of the biggest advantages of HELOCs over other types of loans—especially credit cards—is a lower interest rate. The monthly difference is significant. Take a look at this example of a $10,000 loan based on recent average rates:

HELOC:         $10,000 at 8.41% = $70.83 monthly interest

Credit card:   $10,000 at 24.62% = $205.17 monthly interest

By choosing a HELOC over a credit card a homeowner in this scenario would save over $134 each month.

Use a HELOC for almost anything

A HELOC is one of the most popular ways homeowners can access cash.

Home-related uses are very popular. This includes kitchen and bath remodels, new roofs and windows, upgraded plumbing and electrical systems, new landscaping and appliances.

However, HELOCs don’t need to be used for home improvements. Many folks use a home equity loan to finance higher education, a vehicle, a wedding (including golden rings!) or a dream vacation.

Another common use for HELOCs is to consolidate and pay off high-interest credit card debt. This move both simplifies personal finances and saves money.

Get access to the cash you want

A Consumers home equity loan or HELOC provides access to cash when you need it at a competitive rate.

Approval and rate may vary based on credit history, term and security offered. Other restrictions and fees may apply. Loan programs, rates, terms, and conditions are subject to change at any time without notice. Federally insured by NCUA

Consumers home loans

We’d love to help you with a mortgage or home equity line of credit.