Banking BasicsRichwood News

Let the Fund Begin

By April 4, 2022No Comments

Put your house to work for you with a Home Equity Line of Credit—Use the equity you have in your home to get financing for your next big purchase or project, or even consolidate some debts. From paying off credit cards to building that deck you always wanted, your dreams can become a reality.

This line of credit provides you with access to cash to use as you wish. With interest rates remaining low, home equity lines of credit are often the perfect lending instrument to finance your perfect getaway, complete a renovation, or secure a car for your eager new driver. Did you know you can also deposit funds from your HELOC directly to your Richwood Bank checking account through online banking? It’s that easy, so go on that adventure, buy the jet ski, or complete the renovation.

A HELOC not only minimizes interest expenses but also provides tax benefits. As a bonus, you can continue to use your funds after repaying your balance. If you’re going to use it for purposes unrelated to your home, make sure you’re familiar with the tax benefits of doing so and consult your tax advisor for additional information.

Whatever your dreams are this year, we’re not only rooting for you, we’re here to help you make them a reality. If you’re considering a HELOC, or simply have questions about your current HELOC loan, call today to speak with one of our expert loan officers.

Turn your dreams into a reality and let fund begin!