Mortgage Benefits and Home Equity
When deciding between renting or buying a property, consider the property’s assets.
accommodation. While renting may be convenient, these payments won’t do much for your financial future. However, mortgage payments add value and opportunity, especially through equity.
Every time you make your mortgage payment, maybe think of it as paying yourself!
Consider the following financial benefits of paying off that mortgage:
- Mortgages are considered good credit and are likely to support your FICO® score.
- As you pay down your mortgage principal, you are investing in your home equity and increasing wealth based on the value of your property.
- Over time, properties tend to increase in value and sell with a return on investment.
Even better, you can access your home equity as a suitable source of financing with a Home Equity Line of Credit (HELOC)! HELOCs can be used to:
- Consolidate debt into a lower monthly payment.
- Cover university tuition or student expenses.
- Make home improvements that can further increase the value of your property
- …and more.
In this way, home ownership can help guide you to success!
financial future! In addition, HELOC Visions come with a convenient ten-year withdrawal period.
If you need help becoming an owner, visit him es.visionsfcu.org/walletwellness and contact our Financial Wellness Team. For more information about HELOCs, see page 3 or schedule an appointment with a local representative at es.visionsfcu.org/digital-appointment-booking.
800.242.2120
Federally insured by NCUA. Equal Housing Lender.
Editor’s Choice
2024-05-01 10:15:00
#Property
