Home equity loan or line of credit (HELOC) — which one’s right for you?

Thinking about making some home improvements this fall — or planning ahead so you’re first in line with your contractors next spring? Then you’re probably on the lookout for affordable financing. One option that could be a good fit: tapping into the equity of your home. 

Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell.

Sure, decluttering might seem like the craziest thing we could suggest in the middle of making the holiday magic happen, but here’s the thing: maybe it could actually bring you a little more joy this holiday season.

Ready to tackle your home improvement to-do list?

Find out if now’s the right time with Summit’s Three-Step Debt Analysis Quiz.

As long-time home owners will tell you, costly household repairs make you miss the good ol’ days of calling your landlord to come and fix things “quickly, if you can.” But since routine maintenance comes with the territory when you own your own home, we’ve listed a few tips on how you can save some cash on those (inevitable) repairs.