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A Champion® guide to home equity lines of credit. Thanks to your hard work, your home is more than a place to live. It can also be a flexible financial tool. After all, with every mortgage payment, you increase your ownership or equity in your home. A home equity line of credit can be a smart way to make that value work harder for you. A home equity line of credit works much like a checking account, with the limit determined by the amount of equity you have in your home. Tapping into your credit line is as easy as writing a check. You can draw on your line of credit whenever you need it throughout the term of the agreement. Use the money to consolidate high-interest debt or credit cards, or pay for home improvements, college tuition, car repairs, or any unexpected expenses that come up. You only pay interest on money you’ve used. Prefer a lump-sum loan you can pay off over a long period of time? Consider a home equity loan, which can be used to consolidate high-interest debt or pay for larger one-time expenses.In this section, you can find out more about the benefits of taking out a home equity loan, as well as how to determine if it's the right solution for you. Use our online loan calculators to determine how you could use a home equity loan to your advantage. At
Champion, our loan specialists are trained to listen to your needs and
carefully assess your financial situation. Only then will we recommend
a customized solution that makes sense for you. Ready to get started?
Call 1-800-CHAMPION or
click here for a free, no obligation consultation with one of our
Loan Specialists. |
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