In a perfect world, nothing in your home would ever break, malfunction, or wear out. The reality, however, is that roofs leak, basements flood, and furnaces falter – often leaving behind hefty repair bills. But DCCU’s Home Equity Plus can help you cover the cost of an unexpected home repair.

Using your home as collateral, Home Equity Plus starts as a line of credit and then up to three segments can be converted to a fixed-rate loan in 5 or 10-year terms. The available limit on the line of credit returns to the original line of credit limit as monthly principal payments are made. Home Equity Plus offers the flexibility you need because it’s a line of credit and a fixed-rate loan – all in one.

How Could You Use Home Equity Plus?
Setting up a Home Equity Plus in advance can help ensure that you’re better prepared in case something unexpectedly breaks or fails in your home because you’ll have quick access to the funds you need. If your roof is damaged during a storm, for example, Home Equity Plus can help you cover the repair costs without needing to worry about depleting your savings. There are several other uses for Home Equity Plus, including:

Major Appliance Replacement
You can use the equity in your home to help you pay for the cost of replacing major appliances – like your washer and dryer, air conditioner unit, or furnace.

Home Renovations
One of the more popular uses of a Home Equity Plus, you can use the funds for home improvement projects like remodeling the kitchen or bathroom, adding a deck or patio, or replacing your home’s windows.

Debt Consolidation
Streamline your monthly payments by combining multiple higher interest debts into one convenient monthly payment.

Planning ahead with Home Equity Plus from DCCU can help you gain peace of mind should a financial emergency arise. From unforeseen home repairs to home improvement projects, be ready for whatever comes next. To learn more, please visit our Home Equity Plus landing page.

This article is for general information only and not intended to provide specific advice or recommendations for any individual.