STATE BANK OF SOUTHERN UTAH BLOG

4 Ways to use Home Equity




 

Because of its flexibility, a Home Equity Line of Credit (HELOC) is a popular choice for homeowners.  A HELOC allows you to borrow against the equity in your home. Essentially you can borrow up to a certain percentage of your home’s appraised value, less outstanding mortgage balance, and then put that money to use wherever you deem fit. In other words, you are borrowing the equity in your home to use the cash.




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Topics: Banking, Loans, Education, HELOC


About SBSU

Hometown banking was established in southern Utah with the opening of State Bank of Southern Utah in 1957.

Hometown banking is important because people who live and work in southern Utah make the decisions. Bank employees and officers understand the banking needs of area residents because they are affected by the same economic climate. Find out what hundreds already know - hometown banking is better.

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