When it comes to utilizing the equity in your home, the most common use is home improvement projects, but there are several ways you can tap into your home’s value. Today on the blog, we’ll explore Home Equity Plus from DCCU and flexible ways you can use it.

How Does Home Equity Plus Work?
Home Equity Plus from DCCU starts as a line of credit and allows you to easily convert up to 3 fixed loan segments for a 5 or 10-year term. The available limit on the line of credit returns to the original line of credit as the monthly principal payments are applied. And while most people only consider home related expenses, such as emergency home repairs or home renovations/remodels, there are several other ways you can use Home Equity Plus, including:

Emergency Expenses
Cover the cost of unexpected expenses – such as medical bills or other emergencies – by tapping into the value in your home.

Debt Consolidation
Do your long-term financial goals include paying down outstanding debt? If so, Home Equity Plus can help you by streamlining higher interest balances into one monthly payment.

Education Expenses
Another often-overlooked expense you can use your home’s equity to help cover the cost of is education. Home Equity Plus can be used to pay for textbooks, tuition, housing, supplies, and more!

No matter how you choose to use Home Equity Plus, you’ll be more prepared when the unexpected happens. For more information or to explore if Home Equity Plus could be a good fit for you, please fill out a Contact Form, call us at 540-946-3200, or visit us in-person at a DCCU location!

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