SeaComm Federal Credit Union OFFICIAL BLOG

Four Uses for a Home Equity Loan

A home equity loan lets you use the equity you have built in your home as a source of funds for a variety of projects. Continue reading to discover four ways you can take advantage of your home’s equity!

Fund home renovations: By far, the most popular use for a home equity loan is funding home improvements. You can give your kitchen a major facelift, build that extension you have been dreaming of, or put in a new pool!

Take your dream vacation: The luxury cruise you’ve been dreaming of is within reach! A home equity loan could also help you pay for a road trip across the country or even an all-inclusive vacation.

Pay for your child’s college tuition: You don’t need to go into deep student loan debt for your child’s education. Instead, tap into your home’s equity to cover those tuition bills and pay it all back at a steady and manageable pace.

Establish an emergency fund: Using your home’s equity can be a great way to give your savings the boost it may need. If you experience a financial setback of any kind after taking out your home equity loan, you will already have the funds on hand to help pull you through.

home equity loan can provide homeowners with the funds they need for a home improvement project, dream vacation, college tuition, or to build an emergency fund. If you are ready to take out a home equity loan, look no further than SeaComm. Give us a call at (800) 764-0566 or stop by one of our nine convenient branch locations to meet with a SeaComm representative!

TIP: As a SeaComm member, you may already have a head start on a home equity loan through our loan pre-approval program, LoanEngine™. This program allows you to view and accept loan offers without having to come into a branch or fill out an application. If you qualify for a pre-approved offer, you will be presented with it through our SeaComm Mobile app or NetTeller™ in the “My Offers” tab, via email, and/or a letter through the mail. Click here to login to your NetTeller™ to view your current offers. If you don’t have any offers at this time, be sure to check back every 60 days.

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