Home equity line of credit is sometimes referred to as HELOC. This type of borrowing uses the equity in your home to establish a line of credit that you can draw from during a specific period of time up to a specified amount similar to a credit limit on a credit card.
Some of the common uses for home equity loans include the following:
- pay for home improvements
- unexpected expenses
- debt consolidation
If you have equity in your home and are interested in accessing it, Iowa Savings Bank is here to help you!