A key benefit to owning your home is the equity you build up over time. Whether you have a mortgage with 121 Financial Credit Union or not, you can leverage this equity to qualify for a Home Equity Loan or a Home Equity Line of Credit (HELOC) to pay for things like renovations, debt consolidation, college tuition, and more.

Generally, the interest rate on your HELOC is tied to the prime rate of interest (and the combined loan-to-value amount) and may fluctuate as rates rise and fall.

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