Financial Resources Blog

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What a Good Bank Can Do for You!

Almost everyone has a checking and/or savings account with a bank, but many people don’t know the many products and services banks provide for their financial needs. A bank isn’t just a place to store your money, but also offers guidance, products, services and more to help meet any financial need you might have. Learn about the additional...

How Do I Know if a HELOC is Right for Me?

Home equity remains a tremendous financial resource when used wisely and for right reasons. A home equity line of credit (HELOC) can be obtained using your home equity as security. Although the route to getting cash looks easy, it’s prudent to take the loan for right financial reasons. 

FAQs About Home Equity Lines of Credit

A home equity line of credit (HELOC) is a type of loan offered to homeowners using their home as collateral. The amount of loan pre-approved depends on the value of the home, household income, credit score and other factors.

What Is a Home Equity Line of Credit & What Are Its Benefits?

A home equity line of credit, also referred to as a HELOC, can be defined as a line of credit that is secured by your home. For many people, a home is their most valuable asset. With a HELOC, you can use the equity in your home as collateral for another loan.

Things to Use a Home Equity Line of Credit For

A home equity line of credit (HELOC) gives you the opportunity to use the equity in your home as collateral when you borrow money from a lender. Similar to other loans, HELOCs allow you to borrow a certain amount and then pay it back over a certain period with an associated interest rate.

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