What Are the Advantages of a HELOC?

Q: I’m looking to tap into my home’s equity, possibly using a Home Equity Line of Credit. What are some of the advantages of choosing the HELOC option?

A: A Home Equity Line of Credit (HELOC) is an open credit line that is secured by the paid value of the borrower’s home. Homeowners can generally open a HELOC with up to 85% of their home’s equity, or the difference between what’s left on their home loan and the current value of it. A HELOC provides homeowners with a convenient way to use the equity in their home.

HELOCs have a “draw” period, during which time the borrower can access the available funds. That time frame generally ranges from 5-10 years. When the draw period ends, the loan will have to be repaid, either immediately or within the next 15-20 years.

Once approved for a HELOC, borrowers can spend the funds however they choose. Some plans may require the homeowner to borrow a minimum amount at each draw, keep a predetermined amount outstanding or withdraw an initial advance when the line of credit is first established.

HELOCs are often used to fund a home renovation or expansion, but they can also be used to cover any large expense, such as a medical emergency, a new business venture, a wedding, a dream vacation, an adoption or the purchase of a recreational vehicle.

Here are some of the primary advantages of a HELOC:

Only borrow what’s needed. A HELOC does not provide borrowers with a lump sum of cash. Instead, like a credit card that is only used when necessary, the homeowner can withdraw funds from the HELOC as appropriate. This makes a HELOC a great option to pay for expenses when there is not a known price tag. Also, because the borrower is only paying interest on the money they actually withdraw, they’ll have the freedom to take out a larger line of credit and decide how much of it to use later on.

Qualify for a low Annual Percentage Rate (APR). Interest rates continue to hover at all-time lows. Opening a HELOC now means qualifying for low interest rates on the line of credit. Most HELOCs have fluctuating interest rates, but some lenders allow for the possibility of converting large withdrawals into fixed-rate loans.

Flexible terms. Terms and repayment plans for HELOCs are generally flexible. During the draw period, homeowners can withdraw funds from the HELOC as needed and use the money however they please. When the draw period ends, the homeowner may be allowed to renew the line of credit and continue withdrawing funds as needed.

Monthly payments also vary. Many lenders only require borrowers to make payments toward the interest of their loan during the draw period. Once that time is over, though, the borrower will need to pay back the entire principal of the loan immediately in one “balloon payment,” or over the course of 15-20 years. This is especially beneficial if the borrower does not have the funds to pay back the loan now, but anticipates an improvement in their financial situation within the next few years.

The timeline for a HELOC can vary depending on the lender and on how much the homeowner wants to borrow, but HELOC terms can last up to 30 years.

Potential tax benefits. As per the Tax Cuts and Jobs Act of 2017, the interest paid on home equity loans and lines of credit is tax-deductible if the funds are used to buy, build or substantially improve the home of the taxpayer who is securing the loan.

Build a credit score. There’s no need for an excellent credit score to qualify for a HELOC, and on-time monthly payments can significantly boost a homeowner’s score.

Low fees. A HELOC costs little or nothing to establish. Annual fees (if any) are also low.

When life throws an unexpected curve ball or even a unique opportunity, a Destinations Credit Union home equity line of credit can be a great option. With interest rates at record laws, taking out a HELOC makes more sense than ever.

Your Turn: Why did you choose a HELOC? Tell us about it in the comments.

Sources:
https://www.bankrate.com/home-equity/pros-cons-of-home-equity-lines/
https://www.nerdwallet.com/article/mortgages/home-equity-loan-line-credit-pros-cons
https://www.cnbc.com/2017/07/31/benefits-of-a-home-equity-line-of-credit.html
https://www.mortgageloan.com/heloc-advantages
https://www.fool.com/millionacres/real-estate-financing/helocs/your-home-equity-line-credit-heloc-trap/

What’s the Best Way to Use a Home Equity Line of Credit?

Q: With interest rates falling and home prices rising, it seems like a great time to tap into my home’s equity using a home equity line of credit. What’s the best way to use these funds?

A: A home equity line of credit, or a HELOC, can be a fantastic way to source extra funds during a falling-rates environment. Tapping into your home’s equity, or the positive difference between what is owed on a home and its current value, will give you the funds you need for a large expense with no additional strings attached.

With low interest rates on a Destinations Credit Union‘s Home Equity Line of Credit, the repayment plan is always affordable. If approved, you can take an advance from the available line at any time. There are no restrictions on how to use these funds, but since you’re essentially risking the loss of your home with this loan, it’s important to choose wisely when deciding how to use the funds.

Here are four forward-thinking uses for a home equity line of credit:

1. Home improvements

One of the most popular uses for home equity is for home renovations and improvements. These can be as major as adding a 1,000-square-foot extension to your home, as minor as replacing old carpet with new hardwood flooring or anything in between.

Using your home’s equity for home improvement projects is a smart choice for multiple reasons. For one, the money you put into the renovations acts as an investment. If you choose improvements that increase your home’s value, you can make back the money you spent or even see a return when you sell your home. Also, if you use the funds from a home equity loan to increase your home’s value, you may be able to deduct the interest paid on the loan from your taxes (be sure to consult with your tax adviser if you plan to go this route).

If you plan to use your home equity funds for home improvements, be sure to choose wisely. It’s best to go for improvements that add lasting value to your home instead of blowing big bucks on superficial remodeling projects that may look dated just a few years down the line.

2. Debt consolidation

Another popular use for a home equity loan is to consolidate high-interest debt. Paying off multiple debts at high interest rates can be cumbersome and difficult to manage. Worse, the heavy interest rates mean more of the borrower’s money goes toward the lender and less goes toward paying down the principal of the debts. Using you home equity to consolidate debt to a single, low-interest loan can slash a pile of debt by several thousands of dollars and help shorten repayment time by several years.

3. College education

When interest rates are falling, funding a college education through home equity instead of a high-interest student loan can be a smart choice. Similarly, homeowners struggling to meet their student debt payments without defaulting on the loan might want to use their home’s equity to pay off the debt quickly and replace it with a more manageable low-interest loan. It’s important to note that paying off a federal student loan with home equity might not be the best choice, as these loans are sometimes eligible for partial or complete forgiveness.

4. Emergency fund

Most of us know that financial experts recommend having three to six months’ worth of living expenses stashed in an emergency fund to be used if the need arises. But reality keeps this magical-sounding fund a distant dream for too many people. If you’ve been struggling to get your own emergency fund off the ground, tapping into your home’s equity can be a great way to get that boost you need. You’ll have a large stash of cash to build your fund, and the manageable payment plan will help ensure you put money into savings each month. As a bonus, if you experience a financial emergency of any kind after taking out your home equity line, you’ll already have the funds on hand to help pull you through.

Before you take out a home equity line of credit

A home equity line of credit can provide homeowners with the funds they need for a home improvement project, to get their debt under control, pay for their college education or to build an emergency fund. However, before making any of these moves, it’s important to run the numbers so you are sure you can easily meet the regular loan payments. Otherwise, you risk defaulting on the loan and losing your home.

If you’re ready to take out a home equity loan, look no further than Destinations Credit Union. Our rates and terms are always competitive. Give us a call at 410-663-2500 or stop by Destinations Credit Union to get started on your loan application today.

Your Turn: How did you use the funds from your home equity loan? Tell us about it in the comments.

Sources:
https://www.bankrate.com/home-equity/
https://www.cnbc.com/2020/06/11/mortgage-rates-set-new-record-low-fall-below-3percent-on-coronavirus-fears.html
https://www.nytimes.com/2020/06/05/your-money/houses-prices-coronavirus.html
https://www.huffpost.com/entry/best-home-equity-loan-ways-to-use_l_5d5af341e4b036065b6abf17
https://www.bankrate.com/home-equity/reasons-to-use-home-equity/
https://www.discover.com/home-loans/articles/should-i-use-a-home-equity-loan-to-refinance-my-student-loans/

How to Turn Your Back Yard into an Oasis

Image of two Charis surrounded by purple flowers in a back yard.

Most of us have spent lots of time at home this spring, and it looks like summer might not be much different. With many attractions still closed and some states seeing a surge in COVID-19 cases, safe travel will be challenging. For many Americans, this means choosing to staycation at home instead of hitting the road this summer.

A stay-at-home summer doesn’t need to be boring. You can turn your own backyard into a summer oasis without breaking the budget. Here is how to cost effectively maximize your outdoor space. From entertaining in style to keeping the kids busy, we’ve got you covered!

Upgrade your outdoor furniture

Chances are, you’ll be spending lots of time out in the yard this summer, and whether that means sunning on the patio or sipping lemonade under the shade of a tree, you’ll feel more of that vacay vibe with the right furniture. It doesn’t have to be pricey; a little ingenuity will really make those dollars stretch.

Make your outdoor space seem bigger by creating different seating areas for different purposes. Think a cozy coffee nook for mornings, a lazy hammock for getting lost inside the pages of a summer thriller, a pair of lounge chairs for catching the afternoon sun and a patio table for entertaining guests. You can even go all out and designate a small area for nighttime fireside fun.

If you’ve already got a nice patio set, freshen it up by replacing the cushions and adding some summery throw pillows for a whole new look.

Don’t forget to take a look at your outdoor lighting as you spruce up your patio and yard. Brighten up your outdoor space with some sconce lights along the walls or string up some old holiday lights for a truly festive feel.

Add a splash of fun

It may be too late in the season to think of installing an in-ground pool, but you can still have your floating fun with an above-ground pool this summer. Above-ground pools can cost as little as a few hundred dollars or as much as a few thousand for a larger, upgraded model. Most take a week or less to install. And then it’s an endless splashing summer!

Make it natural 

Yes, you’re already outdoors, but that doesn’t mean you’re surrounded by greenery. Even city slickers can add the natural touch to small apartment porches with some potted plants, a container garden or a trellis with climbing flowers. Stick that greenery wherever it can go for an added layer of relaxation.

If you want to go all-out to get that resort-like feel, consider building your own waterfall this summer. It may not be on your bucket list, but it’s a super-fun project with rewarding results.

Fun for the kids

Don’t forget to create a fun space for your kids in your backyard oasis. The sky’s the limit when it comes to outdoor play; just have fun and let your creativity flow freely. Here are some ideas to get you started:

Put up a rock-climbing wall. If your kids are climbing the walls from being home for too long, try a DIY rock-climbing kit for endless fun that also builds strength and coordination.

Build a swing set. Swing sets provide hours of entertainment, but they can get pricey. Save money without compromising on the fun factor by choosing to build a swing set yourself instead of purchasing it pre-made. You’ll have to buy materials and maybe the tools, but you’ll still come out way ahead. Plus, you can make the construction a family project that will keep everyone involved for days.

Install a backyard splashpad. Your favorite spraygrounds might be closed this summer, but you can have your water fun at home with a DIY splashpad kit. Splash pads promise hours of fun for kids of all ages.

Create a natural playspace. According to a natural playground study by the University of Tennessee, children who play on natural playgrounds, or playscapes, tend to stay more engaged than those playing on brightly colored equipment. Building a natural playspace is easy — think a small pile of sand, a set of logs arranged as stepping stones and some tall grass or plants to act as hiding spaces.

Financing your oasis

If you’re short on the cash you need to turn your backyard into an oasis this summer, Destinations Credit Union can help with a Signature Personal loan. Our terms are always favorable and our payback plans affordable. Also you may want to consider a HELOC (Home Equity Line of Credit) Put your mortgage payments to work for you today with a home equity line of credit from Destinations Credit Union. With this open, anytime credit line, we’ll help you transition your home’s equity into financing for a wide range of other needs. Call, click or stop by to discuss your options with one of our Loan Officers today.

Your Turn: Have you upgraded your outdoor space? Tell us about it in the comments.

Sources:
globalnews.ca
blog.rismedia.com
statesman.com
installitdirect.com

Is It A Good Idea To Open A HELOC Now?

If you’re looking for a large sum of money to use for a home improvement project, or thewoman looking at computer economic devastation of COVID-19 has left you in desperate need of cash, consider tapping into your home’s equity. One great way to do this is by opening a home equity line of credit, or a HELOC. Let’s take a closer look at HELOCs and why they can be an excellent option for cash-strapped homeowners in today’s financial climate.

What is a HELOC?

A HELOC is a revolving credit line allowing homeowners to borrow money against the equity of their home. The HELOC is like a second mortgage on a home; if the borrower owns the entire home, the HELOC is a primary mortgage.

Given that a HELOC is a line of credit and not a fixed loan, borrowers can withdraw money from the HELOC as needed rather than borrowing one lump sum. This allows for more freedom than a loan and is especially beneficial for borrowers who don’t know exactly how much money they’ll ultimately need to fund their venture.

Borrowers withdraw funds (aka “draws” or “advances”) from the HELOC during a set amount of time that is known as the “draw period,” which generally lasts 10 years. Some lenders place restrictions on HELOCs and require borrowers to withdraw a minimum amount of money each time they make a draw, regardless of need. Other restrictions include the requirements to keep a fixed amount of money outstanding, or to withdraw a specific sum when the HELOC is first established. At Destinations Credit Union, we allow borrowers to borrow up to the limit that you qualify for as you need it.

How do I repay my HELOC?

Repayment of HELOCs varies, but is usually very flexible.

Many lenders collect interest-only payments during the draw period, with principal payments being strictly optional. Others require ongoing monthly payment toward both principal and interest.

When the draw period ends, some lenders will allow borrowers to renew the credit line and continue withdrawing money. Other lenders require borrowers to pay back the entire balance due, also known as a “balloon payment.” Still others allow borrowers to pay back the loan in monthly installments over another set amount of time, known as the “repayment period.” Repayment periods are generous, lasting as long as 20 years.

How can borrowers spend the money? 

While home improvement projects are popular uses for HELOCs, borrowers are free to spend the money however they please. Some other uses for HELOCs include debt consolidation, funding a wedding, adoption, dream vacation or the launch of a new business.  Current tax laws may allow you to deduct the interest on a HELOC if it’s used for home improvements.

Is everyone eligible for a HELOC?

Like every loan and line of credit, HELOCs have eligibility requirements, which help lenders determine the applicant’s financial wellness and responsibility. Most notably, the borrower must have a minimal amount of equity in the home.

Lender requirements vary, but most homeowners will be eligible for a HELOC with a debt-to-income ratio that is 40% or less, a credit score of 620 or higher and a home assessment that stands at a minimum of 15% more than what is owed.

How much can I borrow with a HELOC?

HELOC amounts vary along with three criteria: the value of your home, the percentage of that value the lender allows you to borrow against and the outstanding amount on an existing mortgage.

To illustrate, if you have a $300,000 home with a mortgage balance of $175,000 and your lender allows you to borrow against 85% of your home’s value, multiply your home’s value by 85%, or 0.85. This will give you $255,000. Subtract the amount you still owe on your mortgage ($175,000), and you’ll have the maximum amount you can borrow using a HELOC, which is $80,000.

What are the disadvantages of a HELOC?
A HELOC is secured by your home’s equity, which places your home at risk of foreclosure if the HELOC is not repaid. Before opening a HELOC, it’s a good idea to run the numbers to get an idea of what your monthly payments will look like and whether you can easily afford to meet them.

Also, many lenders require the full payment of the HELOC after the draw period is over. This can prove to be challenging for many borrowers.

Finally, if you don’t plan to stay in your home for long, a HELOC may not be the right choice for you. When you sell your home, you’ll need to pay off the full balance of the HELOC. You may also need to pay a cancellation fee to the lender.

A HELOC can be a great option now

HELOCs have variable interest rates, which means the interest on the loan can fluctuate over the life of the loan, sometimes dramatically. This variable is based on a publicly available index, such as the U.S. Treasury Bill rate, and will rise or fall along with this index, though lenders will also add a margin of a few percentage points of their own.

The fallout of COVID-19 may impact the economy for months, or years, to come; however, there is a silver lining among the rising unemployment rates and bankrupt businesses: historically low interest rates. The average APR for fixed 30-year mortgages has hovered at the low 3% for months now, and experts predict it will continue falling. The low rates make it an excellent time to take out a HELOC with manageable payback terms.

The economic uncertainty the pandemic has generated also makes it a prime time to have extra cash available for any need that may arise.

Are you looking to tap into your home’s equity with a HELOC? Call, click, or stop by Destinations Credit Union today to get started. Our favorable rates, generous eligibility requirements, and easy terms, make a Destinations CU HELOC a great choice.

Your Turn: How are you using your HELOC? Tell us about it in the comments.

Sources:
https://www.huffpost.com/entry/coronavirus-time-to-refinance-interest-rates
https://www.thepennyhoarder.com/debt/is-heloc-good-idea/
https://www.bankrate.com/home-equity/heloc-rates/

The Credit Union Difference: A Look At Loan Interest Rates

As a member of Destinations CU, you enjoy the many benefits we offer, including woman showing calculator results to a couplepersonalized service; convenience; a voice in the way your credit union operates; and higher general earnings on your savings.

One of the most significant advantages we offer our members is lower interest rates on loans. Our loans offer you the best of both worlds, with an easy application and qualification process, plus a quick turnaround from beginning to end. Most importantly, though, when you take out a loan through Destinations CU, you’ll enjoy more savings on the interest rates throughout the life of the loan. That means your loans cost you less.
Let’s take a look at some of the most popular loan categories and how the interest rates at credit unions differ from the industry average. (All data has been pulled from the NCUA’s annual analysis of credit union and bank interest rates.)

Auto Loans
Looking for a new set of wheels? Look no further than Destinations CU! You won’t be under pressure to overspend or make a rash decision like you might be at the dealer’s lot. Instead, speak with one of our representatives who will be delighted to help you identify how much you can truly afford while in a relaxed and pressure-free environment. You’ll be working directly with the lender, so you won’t get duped into a deal that includes inflated rates that go directly toward someone’s commission. Most importantly, with rates that fall far below the industry average, you can sign with confidence, knowing you’re getting a fantastic deal.

Used Car Loan, 48 months:
Average industry rate: 5.55%APR (Annual Percentage Rate)
Average credit union rate: 3.75%APR

Used Car Loan, 36 months:
Average industry rate: 5.50% APR
Average credit union rate: 3.61% APR

New Car Loan, 60 months:
Average industry rate: 5.22% APR
Average credit union rate: 3.69% APR

New Car Loan, 48 months:
Average industry rate: 5.10% APR
Average credit union rate: 3.57% APR

Here at Destinations CU, we offer new or used car loans beginning at 2.99% APR*.  Apply online or call to speak to a Loan Officer.

*Monthly payment per $1,000 borrowed at 2.99% APR is $17.97 for 60 months and $22.14 for 48 Months.

Credit Cards
Why pay steep interest rates on a new credit card when you can get one at Destinations CU at a rate that’s nearly two points lower than the national average?

Average industry rate on new credit cards: 13.61% APR
Average credit union rate on new credit cards: 11.80% APR
Here at Destinations CU, we offer credit cards for our members with an interest rate as low as 9.50% APR. See full disclosures here.

Home Equity Lines of Credit
Are you looking to fund a home renovation or expansion? Or, do you want to tap into your home’s equity and take out a secured loan you can use any way you’d like? Consider taking out a home equity line of credit (HELOC) at Destinations CU. Check current rates here.

Home Loans
When you apply for a home loan at Destinations CU, you’ll enjoy personalized attention throughout the loan process, quick, professional service, and interest rates that beat the industry average no matter what kind of mortgage you choose. Visit our First Mortgage Center to check current rates and borrowing options.

According to a report by CUNA, the closing fees for mortgages taken out through credit unions average $200 less than those taken out through banks. That’s $200 in your pocket at a time when you’ll need to cover all kinds of moving-related expenses, from new furniture, light fixtures and touch-ups on your new home to moving costs.

Personal/Unsecured loans
When you need a bit of extra cash for a reason that doesn’t fit neatly into any other category, consider a personal loan at Destinations CU. The application process is quick and easy, and you can use the extra money any way you please, from funding a dream vacation to paying for wedding expenses to covering the costs of adopting a child. With modest interest rates, you’ll enjoy an affordable payback plan throughout the life of the loan.

Average industry interest rate on fixed 36-month personal loans: 10.31% APR
Average credit union interest rate on fixed 36-month personal/unsecured: 9.46% APR

You’ll always benefit when you choose Destinations CU. As a not-for-profit, member-owned cooperative, our only goal is your financial wellness. Speak to a Loan Officer today about taking out a low-interest loan of any kind.

Your Turn: Which low-interest loans are you currently enjoying from Destinations CU? Tell us about it in the comments.

Choosing An Equity Loan In A Rising Rates Environment

Interest rates are expected to climb soon. What are the differences between a home5b368-house2bmoney equity line of credit (HELOC) and a typical home equity loan? How does an environment of rising interest rates impact each choice?

It’s true that most financial experts are predicting an interest rate hike (or multiple hikes) this year. With rising rates, borrowing against the equity of one’s home will likely become a more popular choice. That’s because people will choose to fund home renovations and other high-priced needs with their equity instead of moving to a new home with a mortgage that has higher interest rates. Refinancing their existing mortgage for a lower payment will no longer be a viable option either, since they probably already have a great rate they won’t want to give up.

With that said, here are some basics you’ll want to know about each kind of loan:

HELOCs

1.) How they work

A home equity line of credit is a revolving credit line that allows you to borrow money as needed to a limit, with your home serving as collateral for the loan. Lenders approve applicants for a specific amount of credit by taking a percentage of their home’s appraised value and subtracting the balance owed on the mortgage. They may also consider any outstanding debt you have, your income and your credit history.

If you’re approved for a HELOC, you can spend the funds however you choose. Some plans do have restrictions, though, and may require you to borrow a minimum amount each time, keep a specific amount outstanding or withdraw an initial advance when the line of credit is first established.

2.) Pros

HELOCs allow for more freedom than fixed home equity loans. Since you’re opening a line of credit and not borrowing a set amount, you can withdraw money as needed from the HELOC over the course of a set amount of time known as the “draw period.” This is especially beneficial if you’re renovating your home or using the money to start a new business and don’t know exactly how much money you’ll need to fund your venture.

Repayment options on HELOCs vary, but are usually very flexible. When the draw period ends, some lenders will allow you to renew the credit line and continue withdrawing money. Other lenders will require borrowers to pay back the entire loan amount at the end of the draw period. Others allow you to make payments over another time period known as the “repayment period.”

Monthly payments also vary. Some require a monthly payment of both principal and interest, while others only require an interest payment each month with the entire loan amount due at the end of the draw period. This can be beneficial when borrowing for an investment or business, as you may not have the funds for repayment on a monthly basis but anticipate earning enough to pay back the entire loan.

3.) Cons

HELOCs have variable interest rates. This means the interest you’re paying on the loan can fluctuate over the life of the loan, sometimes dramatically. This variable is based on a publicly available index, such as the Wall Street Journal Prime Rate, and will rise or fall along with this index. Lenders may also add or subtract (Destinations Credit Union’s rate is Prime Minus 1%*) a few percentage points, called margin, of their own.

Obviously, taking out a HELOC in an environment of rising interest rates means your rates are likely to increase over the life of the loan. In addition, HELOCs that only require repayment of principal at the end of the term can also prove to be difficult for some borrowers. If you have trouble managing your monthly budget, you may not be able to pay back the full amount on time. In that case, you will be forced to refinance with another lender, possibly at an unfavorable interest rate.

Home Equity Loans

1.) How they work

A home equity loan, also secured by your home’s equity, allows you to borrow a fixed amount that you receive in one lump sum. The amount you will qualify for is calculated based on your home’s loan-to-value ratio, payment term, your income and your credit history. Most home equity loans have a fixed interest rate, a fixed term and a fixed monthly payment.

2.) Pros

The primary benefit a fixed home equity loan has over a HELOC is its fixed interest rate. This means the borrower knows exactly how much their monthly payment will be for the entire life of the loan. In an environment of rising rates, this is especially beneficial for the borrower, as their loan will not be subject to the increasing rates of other loans. Also, the interest paid on a home equity loan is often 100% tax deductible (consult your tax advisor for details).

Unlike the repayment policy of HELOCs, every payment on a home equity loan includes both principal and interest. Some loans allow borrowers to pay back larger sums if they choose, but many will charge a penalty for early payments. Regardless of policy, at the end of the loan term, the entire amount is paid up and you can forget about the loan.

3.) Cons

Generally, fixed rate Home Equity Loans start out at a higher rate than HELOCs, so rates must rise a lot to make this the better deal for interest rates.  Taking out a fixed home equity loan means paying several fees. Receiving all the funds in one shot can also be problematic if you find that you need more than the amount you borrowed. Also, the set amount is due every month, regardless of your financial standing at the time. And, of course, if you default on the loan, you may lose your house.

Carefully weigh the pros and cons of each kind of loan before tapping into your home equity. Shop around for the best rates and terms, and be sure to calculate whether you can really afford the monthly payments of your chosen loan.

Don’t forget to call, click, or stop by Destinations Credit Union to find out about the loans we have available for you.

Your Turn: Have you ever borrowed against your home’s equity? Share your experience with us in the comments!

SOURCES:
https://www.franklintempleton.com/investor/campaigns/templeton-global-bond-rising-rates?gclid=CjwKEAjw5_vHBRCBtt2NqqCDjiESJABD5rCJP3FZKzsQc7EeIo3T0s4DMxIgvNCsL4At-X8K8nzR7BoC5-fw_wcB
https://www.google.com/amp/www.csmonitor.com/layout/set/amphtml/Business/Saving-Money/2017/0219/Why-a-home-equity-loan-is-a-smart-choice-as-rates-rise
http://www.schwab.com/public/schwab/active_trader/trading_insights/trading_strategies/6_strategies_for_dealing_with_rising_interest_rates.html
http://homeguides.sfgate.com/choose-home-equity-loan-2651.html
http://online.wsj.com/news/
http://files.consumerfinance.gov/f/brochure.pdf
http://www.realtor.com/home-finance/homebuyer-information/what-are-liens-on-a-home.aspx