Transform Home Equity Into Your Wealth-Building Superpower

Understanding Costs and Risks

While tapping into your home equity can be beneficial, it's important to understand the associated costs and risks. Interest rates for home equity loans and HELOCs are typically variable, which means they can increase over time. Additionally, using your home as collateral means that failure to repay could result in foreclosure. Therefore, it's crucial to assess your financial situation and ensure you have a solid repayment plan in place.