Similar to Home Equity Loans, Home Equity Lines of Credit allow you to access the equity in your home for debt consolidation or to pay for vacations, home improvements, college, medical bills and more. What's the difference?
Copper State Credit Union's HELOC allows you to borrow up to 80% of the appraised value of your home versus 100% with a Home Equity Loan.5 With a HELOC, funds are not provided in one lump sum, they are a revolving source of money which means you withdraw and pay back the money over time. You also only pay interest and make payments on the balance you owe, versus one set monthly payment. Still have questions? That's what we are here for! Let's figure out which solution is best for you.