Get Cash Fast Easy Qualify Home Equity Line

Potential Risks and Costs

While HELOCs offer several benefits, there are also risks to consider. Because the interest rates are variable, your monthly payments can increase if rates rise. Additionally, if you fail to make payments, you risk losing your home since the line of credit is secured against it. There may also be upfront costs such as application fees, appraisal fees, and annual fees to maintain the line of credit³.