Home Equity Lines
Features of Home Equity Lines
- Unlimited access by simply writing checks
- An interest rate that is often far lower than credit card or installment loan rates; the interest paid may be tax deductible.
- Can be used for any purpose - major purchases like cars or appliances, home improvements, college expenses, or debt consolidation, to name just a few.
- Just like with a credit card, the Equity Line can remain at a zero balance and still be kept for unforeseen expenses or other financial emergencies.