How to Make Your Home Equity Work for You

  • by Rayna Karst
  • Apr 21, 2022, 15:38 PM
Homeowners work hard to improve their homes – whether that be through making repairs, redecorating, or getting that landscaping just right. 
But many homeowners don’t know that you can make your home work for you, too! 
As you pay off your mortgage and increase the value of your home through repairs and updates, you build equity. With the right financial tools, that equity can be a helpful resource for taking on all kinds of expenses. 
Through a Home Equity Loan or a Home Equity Line of Credit, you can tap into your home’s equity to: 
• Finally take that vacation you’ve always wanted
• Take on a big home renovation project
• Get access to some extra cash in the event of an unexpected expense
• And more! 
While they can be used for the same purposes, Home Equity Loans and Lines of Credit work differently. 
A Home Equity Loan is similar to a second mortgage on your home. You get your funds in one lump sum, and make fixed monthly payments. 
A Home Equity Line of Credit (HELOC) acts as a revolving line of credit. Much like a credit card, the line is always available when you need it most. CoreFirst offers a HELOC with competitive rates, easy payments, and quick approval time. 
You spend a lot of time on your home. It’s time to take a break, treat yourself, and reap the benefits of your hard work. 
Talk to one of our experienced loan officers to learn more about how you can unlock your home’s equity today – and decide which method works best for you.