Home equity lines of credit can be a great way for homeowners to gain quick access to cash for a much-needed home improvement project or other expenses that might arise. A home equity line of credit (or HELOC for short) is a form of credit that you can use for large expenses. The credit is secured by your home, using it as collateral. While that can be a major decision worth careful consideration, a home equity credit line from Fidelity Bank in Leominster, MA comes with some benefits that other types of credit don’t.
Fidelity home equity lines of credit:
- Provide access to larger amounts of money based on the equity in your home
- Replenish available credit as you make monthly payments toward the outstanding balance
- Typically offer significantly lower interest rates compared to credit cards
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