Put Your Home's Equity to Work
As you make mortgage payments, you build equity in your home — and that equity is a valuable financial tool that can offer flexibility when you need it most. FNBCC offers two home equity lending solutions, home equity loans and home equity lines of credit (HELOCs), so you can put that equity to work in the way that fits your goals.
Home Improvements: Fund renovations, remodels, or repairs to increase your home’s value and comfort.
Debt Consolidation: Pay off high-interest credit cards or personal loans with a lower-interest home equity loan.
Education Expenses: Cover tuition or other education-related costs for yourself or family members.
Emergency Expenses: Access funds for unexpected medical bills, major car repairs, or other urgent needs.
Major Purchases: Finance big-ticket items like appliances, furniture, or even a vehicle.
Investment Opportunities: Use equity to invest in real estate, business ventures, or other income-generating opportunities.
- Vacation or Special Events: Pay for weddings, milestone celebrations, or dream vacations.
- Bridge Financing: Cover costs when transitioning between homes or waiting for a property sale to close.
Ready to put your home's equity to work for you? Contact the lending team at FNBCC to start the conversation.
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Home Equity Loans vs. HELOCs: Which is Right for You?
Home Equity Loans
A home equity loan gives you a lump sum upfront, secured by your home's equity, with a fixed rate and predictable monthly payments — a great fit if you need a set amount for a one-time expense.
- Fixed interest rate for the life of the loan
- Lump-sum disbursement at closing
- Predictable monthly payments
- Best for one-time expenses (home renovations, debt consolidation, major purchases)
- Ideal if you want certainty over a set payment schedule
- Interest may be tax-deductible if used for home improvements (consult a tax advisor)
HELOCs
A HELOC gives you a revolving line of credit based on your home's equity, so you can borrow what you need, when you need it, during the draw period — typically with a variable rate and interest charged only on what you use.
- Revolving credit line with a draw period
- Variable interest rate
- Pay interest only on the amount borrowed
- Best for ongoing or recurring expenses (phased projects, rolling costs)
- Ideal if you want flexibility and access over time
- Interest may be tax-deductible if used for home improvements (consult a tax advisor)