Posted on May 6, 2019 Last Updated: September 23, 2020
Start a home improvement project now with a home equity line-of-credit
If your plans are set for a home improvement project, but you’re not certain how much money you’ll need to get started, a home equity line-of-credit (HELOC) from KEMBA Financial Credit Union might be the place to start. Unlike a traditional home equity loan, where you take a one-time lump sum payment, a HELOC allows you to draw on funds as you need them and as often as you need, up to your established limit. Monthly repayment terms will vary depending on how much you borrow, your interest rate, and what type of rate program you choose—fixed or adjustable.
No matter what program you choose, KEMBA offers a fantastic rate and fast approval on your loan so you can focus on getting your home improvement project started. Check out our current HELOC rates here. Of course, you can use funds from a HELOC for other things like consolidating bills, paying college tuition, or for establishing an emergency fund for life’s unexpected moments. If you do use your HELOC for home improvements, the interest you pay is likely tax deductible. (Consult your financial advisor.)
KEMBA makes it easy to get started on your HELOC. Sign up online in just minutes, or stop into any one of 10 Central Ohio KEMBA locations. You can also contact a KEMBA Member Service Representative anytime at 800.282.6420, option 2. We’re ready to answer all your questions and help you with your application.
Apply for your HELOC now from KEMBA Financial Credit Union. It’s just another reason we are a better way to bank.