IMAGINE: your home equity setting you free
Do you have a major expense coming up or want to take the trip of a lifetime? If so, a Horizon Bank Home Equity Line of Credit could free you up to take care of the things you need and want!
What is a Home Equity Line of Credit?
A Home Equity Line of Credit is a form of revolving credit that allows you to take advantage of the equity you’ve built up in your home. When you use your homes equity, you’re borrowing funds directly from your own equity, then repaying it — usually at a relatively low interest rate.
Because it acts as a line of credit rather than as a standard loan, you’ll have access to funding in any amount (up to the total amount of equity you have), whenever you need it.
What can you use your loan for?
Don’t use it to buy your groceries! Money drawn from a this type of revolving credit will have to be repaid, so it’s intended to help you fund major expenses that provide some type of long-term value or benefit. For example, you may want to use it for things like:
Home upgrades and renovations
A new car
Vacation … and more
And with Horizon, you can lock in a portion of your line with a fixed rate, and a fixed term. So you can have a consistent monthly payment.
How can a Home Equity Line of Credit set you free?
Home equity lines of credit offer a few key benefits:
Greater ability to choose how much you need at any given time. For instance, you can write checks from your Home Equity account to buy your own building materials on your next run to your favorite home improvement store.
Total flexibility on principal repayment.
Variable interest rates
With great rates and personalized service, Horizon can help you go farther than you‘ve ever imagined! Talk to your local advisor at 888-873-2640 or apply online.