Things can become chaotic when you’re trying to sell a house, buy a new one, or breathe life into your current space. But fret not—that’s where Home Equity Line of Credit or HELOC* loan options come into play. Let’s look closer at how your home equity can give you the freedom and flexibility to tackle your next big real estate move.
Funding Big Moves
In some cases, eligible homeowners find themselves buying and listing their houses simultaneously. A HELOC gives you access to the equity in your existing property to cover the down payment for your new one without scrambling for cash, as long as you qualify for the new loan with the total amount of debt.
After your original home sells, you can use the proceeds to settle the line of credit. This method keeps plans moving forward for qualified borrowers without extra stress.
Boosting Value Before Selling
Planning to put your property on the market involves strategic improvements to boost its value and attract more potential buyers. A HELOC loan provides the cash needed to make the necessary changes to your home.
Rather than dipping into savings, you can access funds as needed and only pay interest on what you use. These HELOC loan options make it easier to make upgrades that pay off when you list your home.
Refresh Your Existing Space
If you think it’s time for a home renovation, a HELOC can also help. It can be used for everything from remodeling a kitchen to finishing the basement. The good thing is that since it’s a line of credit, you can borrow what you need when you need it, giving you the flexibility for ongoing or phased projects.
Explore Your Options Today
With lower rates than many personal loans or credit cards, a HELOC gives you the power to act when the time is right. Whether seizing a new opportunity or upgrading your space, you can move forward with confidence and financial peace of mind.
If you’re facing a real estate need, reach out to Heartland Credit Union. We’ll help you unlock the potential of your home equity and guide you through flexible HELOC loan options that align with your goals.
*Home equity line of credit (HELOC) rates are variable and tied to the Prime Rate as published in the Wall Street Journal, plus or minus a margin. The prime rate as of 20-Dec-24 is 7.50%. HELOC rates currently range between 6.99% – 15.49%. Rates are subject to change but will never go above 18% APR or below 3.99% APR. Your actual rate will be based on your creditworthiness and loan-to-value (LTV). Maximum LTV is 100%. Property insurance is required. Appraisal fee and title insurance, if required, are additional charges. Closing cost fees generally range from $0.00 to $600.00. Fees that may apply: appraisal or property valuation, title report, flood determination, tax servicing, and filing fees. Rates are accurate as of 17-Mar-25.
