October 6, 2020
With interest rates falling and home prices rising, it seems like a great time to tap into my home’s equity using a home equity loan. What’s the best way to use these funds?
A home equity loan, or a HEL, can be a fantastic way to source extra funds during a falling-rates environment. Tapping into your home’s equity, or the positive difference between what is owed on a home and its current value, will give you the funds you need for a large expense with no additional strings attached.
With interest rates on a Cornerstone CU Home Equity Loan as low as 2.25%APR*, the repayment plan is always affordable. If approved, you’ll receive the funds in one lump sum within a few days. There are no restrictions on how to use these funds, but since you’re essentially risking the loss of your home with this loan, it’s important to choose wisely when deciding how to use the funds.
Here are four forward-thinking uses for a home equity loan: