This summer, don't let finances hold you back from enjoying your backyard oasis or tackling lingering debts. Thanks to increased home prices, homeowners have more equity than ever, and a Home Equity Line of Credit (HELOC) is your ticket to making the most of it.
As of early 2024, the average mortgage-holding homeowner holds $299,000 in equity according to ICE’s Mortgage Monitor report. This figure is up from $274,000 at the end of 2022, and up even more significantly from $182,000 at the beginning of the pandemic, according to CoreLogic’s Homeowner Equity Insights report.*
With a HELOC, you can easily tap into your home's equity to fund those backyard improvements you've been dreaming of or consolidate high-interest debts into one manageable payment.