home equity

All You Need to Know About HELOCs

person signing papers

As you pay down your mortgage or the value of your home increases, you develop equity. When you have equity built up in your home, borrowing against it with a Home Equity Lines of Credit (HELOCs) is a great way to tap into the money when you need it most. Many people take out a HELOC to finance home improvements, pay for college education, cover unforeseen medical costs, and many other purposes. Here’s all you need to know about HELOCs.

Is it a Good Idea to Open a HELOC?

Is it a Good Idea to Open a HELOC?

If you’re looking for some extra cash to use for a home improvement project, your child’s college education or if the economic effect of COVID-19 has left you in need of cash, consider tapping into your home’s equity. One great way to do this is by opening a Home Equity Line of Credit (HELOC). Let’s take a closer look at HELOCs and why they can be an excellent option for homeowners in today’s financial climate.

How to Fund Your Summer Staycation

RV driving on the road

With so much uncertainty during the pandemic, traveling outside the state or country this summer may not be at the top of your priority list. However, with state parks and campgrounds re-opened again, there’s plenty of fun to be had right here in Colorado. If you’re short on cash this summer, tapping into the equity in your home could help. Here’s how a Home Equity Line of Credit (HELOC) works and some fun ways it could help fund your summer staycation.