What will you do with your HELOC?

Your house isn’t just a home. It’s an investment.

And with home values on the rise, a Home Equity Line of Credit— or HELOC, for short, might be the perfect way to put your home’s equity to work for you.

A HELOC is a line of credit, issued to you, based on the equity you have in your home. What can you do with a HELOC? Whatever you want! It’s your HELOC and your choice. And right now, you can get a HELOC from UCCU with no fees and a fixed, low rate you can lock in for ten years.

Here are three of the most common ways homeowners utilize lines of credit or HELOCs to maximize the growing equity in their homes:

DEBT CONSOLIDATION

A HELOC is a great way to consolidate and save money on higher interest loans, such as credit cards, and get out of debt faster. Simply lock in a low rate on a HELOC from UCCU and then use your HELOC to pay off your other loans, starting with loans with the highest interest rates.

With your new, low rate, you’ll save money during the entire life of your loan. And having your debt consolidated into one payment makes life easier.

REMODELS AND REPAIRS

From transforming the house you have into the home you want, to simply making those repairs you haven’t gotten around to yet (or haven’t been able to afford), a HELOC is your opportunity to put your home’s equity back into your home, which can both improve your house and possibly raise its value even higher.

RAINY DAYS

Many homeowners open HELOCs and never use them. That’s the beauty of a HELOC. You’re never required to use or spend one cent of it. Having a HELOC means having the security and peace of mind of knowing you have a line of credit ready for a rainy day… even if that day never comes.

OPEN YOUR HELOC AND LOCK IN YOUR LOW RATE FOR 10 YEARS

To open a HELOC, just visit uccu.com or stop by any UCCU branch. We’ll not only provide you with the lowest rate possible on a HELOC, we’ll lock in that low rate for ten years and we won’t charge you any closing fees. You’ll simply have a fixed line of credit, ready and waiting, for you to use – or not use – however you see fit.

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