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3 Ways to Use A Home Equity Line of Credit

A woman, with a Two Rivers Bank & Trust Home Equity Loan, and a boy sitting in a car outside their house while children run to the carThere are a lot of benefits to owning a home. The biggest, is often the return on investment as most homes increase in value over time. Unlike renting, owning a home produces a return on investment and few people know that you can use your home as equity for virtually anything you need. But, it’s important to leverage your home wisely when you’re using it as a financing tool.

Home equity lines of credit allow you to borrow money with lower rates than personal loans and interest may be tax deductible*, making a HELOC a smart financing option. While many homeowners utilize a HELOC for home repairs and upgrades, it can be used for much more.


You’ve always talked about taking a trip of a lifetime and whether that looks like a cross-country road trip, or an island-hopping adventure in the Caribbean, a HELOC can help finance it!


A lot of people choose to go back to school for different reasons, and adding an additional degree to your resume doesn’t come cheap. HELOCs allow for you to take your investment and invest it back into yourself. Even if you aren’t the one considering going back to school, HELOCs  can help finance your kid’s dream of attending school and furthering their education.

Pay Off Debt

If you take out a HELOC, you’ll enjoy lower interest rates compared to most credit cards. So, a lot of people who have outstanding debts (education, car payments, etc.) will use a HELOC to pay off those credit cards. It’s just important to remember to not run up those credit cards again, after you’ve consolidated those debts.

If you’re a homeowner who’s interested in learning more about HELOCs, talk to your neighbor at Two Rivers Bank & Trust. We can help you determine your home’s value and explain the process of taking out a HELOC. Contact your neighborhood branch and get your HELOC rate quote today!

* Consult your tax advisor for interest deductibility requirements for a HELOC.