Vantage Point

Your Financial Solution May Reside in Your Home’s Equity

St. Louis home values went up 10.1% in 2016, according to Zillow, with early predictions for 2017 expected to rise another 4.3%. That’s great news for home owners! So, what’s your home worth? And better yet, what could you be doing with the equity in your home?

Home value. What’s in a number?
You may or may not know how much your home is currently worth. Sites like Zillow can provide a general idea of what your home may be worth, however, only an appraiser can provide an estimate of the value of the property. If you’re thinking of looking for financing, Vantage Credit Union can help you determine the value of your home and whether or not an official appraisal is needed.

Creative financial solutions
Once you have an idea of what your home is worth, consider what can you do with the equity you have in it. A home equity line-of-credit (HELOC) can be used to improve your home and add to its value, but you could also use a HELOC to consolidate debt, pay for tuition, buy a new vehicle or create a safety-net for unexpected expenses. With a HELOC, you can draw on it any time you need to during your draw period.

Unique HELOC benefits
HELOCs differ from other revolving lines of credit. Unique benefits include:

  • Tax deductible interest payments*
  • Competitive variable interest rate tied to Prime**
  • Borrow up to 100% of your home’s value (minus your first mortgage balance)
  • Draw period of up to 10 years
  • No annual fee
  • No closing costs†

With all of these benefits, now is a great time to take advantage of the equity you’ve built in your home with a home equity line-of-credit.

Put the equity you have in your home to work for you!

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Borrow up to 100% of your home’s value.

HELOC Calculator

* Consult your tax advisor for details.
** May adjust quarterly. APR may vary. Maximum rate is 24.90%.
For a limited time, Vantage will cover the cost of a home appraisal, if required.
Vantage Credit Union Home Equity Lines-of-Credit are valid on Missouri and Illinois property only.