NuVision FCU August 2014
Tap Your Home's Equity with a NuVision Home Equity Line-of-Credit

If you are ready to update your kitchen, bathroom, or landscaping, a home equity loan or Home Equity Line-of-Credit (HELOC) might be your best bet.

These loans let you borrow money using the equity in your home as collateral. Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC is more likely to be tax-deductible. (Consult your tax professional for more details.) Many people even choose to purchase new cars or pay for college expenses because of the potential tax benefits.

A HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit on your loan. Advances can be made by transferring money into your checking account using Mobile Banking or Online Banking. Or you can request a checkbook so you can make direct payments to retailers and contractors. A HELOC is usually a variable-rate loan, so your monthly payments will change based on your outstanding balance and fluctuations in the prime rate. With today's low rate environment, and increasing property values, now is a good time to explore this option.

Talk to a Real Estate Loan Consultant at NuVision today for more details about our home equity loan products.

Copyright 2014 Credit Union National Association Inc. Information subject to change without notice.

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