This way, you may increase it for any reason, you remaining cash for whatever purposes. Some lenders will offer specific off the loan early.
Some HELOCs have an option that allows you to make interest-only payments on the money you borrow during the first few years of the loan. Depending on economic factors, a variable rate loan may be beneficial and result in paying less interest. CU SoCal provides links to external web sites for the convenience of its members. Other than that, you should live below your means so that you can cover emergencies without going into debt. Reina Marszalek.
