If you’re a homeowner and are contemplating any future endeavors that may require additional funding, look no further. A home equity line of credit (HELOC) can provide many advantages over other types of loans.

Lower Interest Rates
HELOC’s are secured against the value of your home and will offer lower rates than unsecured loans such as credit cards and other forms of personal loans.

Revolving Use Of Funds
With home equities, there is no restriction on use of available funds. The loan is backed by your home so it should be advised that funds are always used responsibly.

Adding Value To Your Home
A HELOC is an excellent source of cash for any home renovations, repairs or big projects. Leveraging equity to make necessary improvements will add value into your home in the long term.

Debt Consolidation
HELOC’s can often be a great vehicle for consolidating any high-interest debt because they have much lower interest rates. By consolidating, you can save a lot of money on potential interest payments.

Tax Advantages
A home equity line of credit is a type of mortgage and the interest you pay on it is tax-deductible for borrowers who itemize.

Pay It Off As You Please
One of the greatest advantages of a HELOC is being able to pay off any balances at any time. Before closing the mortgage, it’s important to speak to an account officer regarding no outstanding fees for paying off the loan early.



Find out how to get started on obtaining a home equity line of credit by speaking with one of our expert account officers at Bank of Southern California. We will work with you to understand your financial goals and provide the funding you need to achieve them. To learn more, call 858.847.4780 or visit us in person at one of our many offices conveniently located throughout Southern California.