HELOC for Handling Surprises - Mascoma Bank

HELOC for Handling Surprises

Group of people looking on to a broken down vehicle from the early 1900s

Your HELOC Can Help with Unexpected Expenses

Most people think of their Home Equity Line of Credit (HELOC) as a good source of funds for home improvements or surprise needs around the house. “Honey, I don’t think the furnace is working?!?” As a homeowner, you know there are often surprises that require money to remedy. Your HELOC is there for you and easy to access.

But what if that unexpected expense is a different sort of “repair?” Such as a larger-than-expected healthcare or dental expense? Or maybe you need money to deal with a surprise fix on your car. Given the current challenges in the new and used car markets, keeping your current cars on the road will almost always pay off.

This is another way your HELOC can help. As the HELOC is secured by the equity in your home, you don’t need to get approval for these new or unexpected expenses. You can draw on your HELOC to cover the costs and keep your payments manageable. Contact any Mascoma Relationship Banker to find out more today.

Contact your local branch