HELOC

Put your home equity to work
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Anytime financing
Tap into this line of credit anytime.
Competitive interest rate
And, there are no annual fees.
Easy access to your money
Use checks, online banking or visit a Bank of Missouri location.
Popular projects
Use for home remodeling, debt consolidation and more.
There are many ways to use a HELOC
HELOCs are flexible and are not limited to home remodeling projects. While they can be used in almost any way, because your home serves as collateral, it’s important to plan how funds are used. Here are just a few of the ways a HELOC may add value to your home or help you reduce debt.

A HELOC is ready and waiting with money when you need it

With a home equity line of credit (HELOC), you can tap into your equity without selling your home. Your home’s equity, the difference between the market value and what you owe on your mortgage, serves as collateral.

  • Borrow and repay funds as needed
  • There’s no need to re-apply each time you need cash
  • You only make payments when you have an outstanding balance

Increase your home’s energy efficiency

An energy-efficient home can save money by lowering utility bills. Upgrades to windows or HVAC systems may save you money and add to the value of your house.

Upgrade your home’s features

Focus on increasing the value of your home, what you’ll enjoy most while you live there, or a combination of the two. When using a HELOC to pay for home upgrades, consider the potential rate of return and how long you plan to live in your home. Projects with a high rate of return or that you pay off before you sell can be a good fit for a HELOC.

Add living space to your home

Feeling cramped? A HELOC can allow you to expand your livable space in your current home instead of buying a new home. From finishing off a basement or attic to expanding your home up or out, if you’re feeling ambitious.

Pay off high-interest rate credit card debt

Paying off high-interest cards with a lower-interest HELOC can help you pay down debt faster and save money in interest. This can be a financially savvy move when combined with making more than the minimum payments and paying off your balance quickly. Creating a plan is key. Your mortgage lender will review your goals and help you set a budget that meets them.

A HELOC could hold the key to your big plans
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