A HELOC is there whenever you need it!

Your home isn’t just where you live. It’s also where memories are made, your safe space, and where your dreams can take shape. If you’re a homeowner, you’ve likely thought about making upgrades or covering life’s big expenses, but you might wonder how to pay for them. Enter a home equity line of credit (HELOC), a flexible, affordable solution that can help you fund whatever’s next.

What’s a HELOC?

A HELOC is a revolving line of credit that uses your home as collateral. Unlike a traditional loan with a fixed amount and term, a HELOC gives you the freedom to borrow what you need, when you need it, up to your approved credit limit. A HELOC can be a powerful tool for responsible financial planning!

Why choose a HELOC?

Because a HELOC is based on the value of your home, it can provide a significant amount of borrowing power. You’re not locked into a lumpsum loan, and you simply draw from the line as you need it. It’s flexible, convenient, and cost-effective for tackling major or unexpected expenses.

Not sure whether a HELOC or fixed home equity loan is right for you? Centra’s Flex HELOC is the best of both worlds!

Ways you can use a HELOC

Whether you’re looking to refresh your space or planning for the future, a HELOC can help. Here are some common ways homeowners put theirs to work:

1. DIY home improvements. From kitchen updates to new flooring or a bathroom remodel, home improvement projects often come with a varied timeline. A HELOC lets you pay as you go.
2. Spruce up your outdoor space. Want to be the house where everyone gathers? Use your HELOC to create a backyard oasis. Build a deck, install a fire pit, or even add an outdoor kitchen for those weekend barbeques.
3. Pay college expenses. Whether it’s you or your child heading to college, a HELOC can help bridge the gap. It’s a low-interest option for covering tuition, textbooks, or those last-minute class additions.
4. Consolidate debt. HELOCs typically offer a lower rate than personal loans or lines, including credit cards. If you have other debt, using the value of your home to consolidate your payments might help you save in the long run.

The best part about these options? They can boost the value of your home, improve your lifestyle, or help relieve some stress from major expenses.

Your home. Your equity. Your rules.

Being a homeowner gives you the freedom to design your space and your lifestyle. A HELOC gives you the financial flexibility to make it happen, whether it’s comfort, convenience, or creativity you’re after. So, go ahead! With a HELOC from Centra, you’re covered.

Applying for a HELOC

Making your space all that you want is easier than you think. If you don’t have a HELOC yet, click here to get started today! We can help you navigate through your questions during the process. You can do it, and we can help!

Using your existing HELOC

The easiest way to use your HELOC is to log into digital banking and transfer money from your HELOC to your checking account! Don’t have a checking account? You’re missing out on cash rewards. Click here to learn more about Cashback Checking.

If you don’t want to earn cash with Cashback Checking, visit your nearest Centra location. A Team Member can help you withdraw money from your HELOC or help you get checks for it.