What are some of the benefits of borrowing using the equity in my home?
• Lower Interest Rates. You can save money with a lower interest rate compared to most credit cards, auto loans, and unsecured lines of credit. • Tax Advantages. In many instances, the interest paid on a Home Equity Loan or Line is tax deductible. Consult your tax advisor for details. • Debt Consolidation . Using your home’s equity to pay off high-interest rate debt, such as credit cards, is the smart way to improve your cash flow. • Home Improvements. Investing the money in home improvements actually helps to build equity while borrowing against it. • Emergencies. It’s comforting to know that the financial power of your home can help during an illness, loss, or other emergency. • Education. For many people, a Home Equity Loan or Line is the only means available to finance college, graduate or technical schools, or other educational endeavors. • Business Startups. A Home Equity Loan or Line can provide the much needed and hard-to-get start-up capital for your business.
