There are many benefits to owning your home, the biggest being it allows you to build equity rather than shipping a rent payment off to a landlord. And having that equity means that if unexpected expenses pop up, you can access some funds in the form of loans backed by your home.
Of course, taking out a loan against your home isn’t something you should do lightly or on a whim. But if you do your research, understand the terms of your loan, and have a solid plan for paying it back, you can use home equity loans to your benefit.
Interested in learning more about home equity loans?
Read the full article in the Finances FYI section of The Seattle Times, sponsored by 1st Security Bank.