As the temperatures drop and winter approaches, it’s the perfect time to think about making smart financial moves to improve your home, finances, or even your lifestyle. A Home Equity Loan or Home Equity Line of Credit (HELOC) from Discovery Federal Credit Union can help you check off your winter to-do list with affordable financing options. But did you know these loans can be used for so much more than just home repairs?
And here’s the best part: Discovery FCU pays up to $419 in application and processing fees, so you can save money from the start. Whether it’s appraisal costs, flood determinations, or recording fees, we’ve got you covered. With a minimum total borrowed of $10,000, you can put those savings to work on what matters most. Here are five creative ways to put your home equity to work this winter:
1. Winter-Proof Your Home
Don’t let the cold weather take a toll on your comfort—or your energy bills. Use a home equity product to:
● Replace drafty windows and doors.
● Insulate your attic or walls for better energy efficiency.
● Upgrade your HVAC system to ensure your family stays warm and cozy.
These projects not only make your home more comfortable but can also save you money in the long run.
2. Make Your Dream Kitchen a Reality
Cold weather means more time indoors—and more opportunities to cook hearty meals at home. Winter is a great time to:
● Remodel your kitchen with upgraded appliances or new countertops.
● Renovate your bathroom for a spa-like retreat.
● Add built-in storage solutions to keep your home organized for the season.
3. Consolidate High-Interest Debt
Why wait for spring cleaning when you can clean up your finances now? A home equity loan offers lower interest rates than most credit cards, making it an excellent tool to:
● Pay off high-interest credit card debt.
● Consolidate personal loans or medical bills into one easy payment.
4. Fund Big Life Events
Whether it’s hosting family for the holidays or planning a winter wedding, home equity loans give
you the flexibility to:
● Cover major event expenses.
● Pay for travel to visit loved ones during the season.
● Tackle unexpected costs without stress.
5. Invest in Your Future
Your home’s equity can also help you achieve long-term goals, such as:
● Paying for higher education or tuition bills.
● Starting a small business or funding a side hustle.
● Making energy-efficient upgrades that qualify for tax incentives.
Why Choose Discovery Federal Credit Union?
● Great Rates: Rates start as low as 5.69% APR¹ for fixed-rate home equity loans and as low as 7.75% APR² for home equity lines of credit.
● No Application Fees: Save up to $419 on appraisal, flood determination, property search, mortgage documentation, and recording fees.
● Flexible Terms: Choose repayment plans up to 20 years.
● Personalized Service: Work with the same local lender throughout your loan process.
Get Started Today
Whether you’re ready to winterize your home or pursue a long-awaited project, a Home Equity Loan or HELOC from Discovery Federal Credit Union is the key to making it happen.
Apply Online Today
Don’t let your home’s equity go untapped this winter. Put it to work for you and your family today! Apply here.
NMLS# 410638
1) Home Equity Fixed Rate Loan: Not all members will qualify for the advertised rate. APRs are based on
creditworthiness, term of loan, loan-to-value, direct deposit & automatic payments to/from a Discovery FCU account.
Other restrictions apply. A sample Fixed Rate Home Equity Loan payment based on $10,000, 85% LTV and a 5-year
term at 5.69% is $191.89.
2) Advertised Home Equity Line of Credit APR applies to a minimum advance of $10,000, a loan-to-value ratio of 80%
for a primary residence located in PA. The line is subject to a Variable Rate which is based on the highest Prime Rate
published in the Money Rates Section of the Wall Street Journal in effect on the last day of each month (“Index”) plus
0% (“Margin”). The Index plus the Margin equals the Interest Rate. Your rate will never be lower than 3.50% APR. As
of 12/01/2024, the Prime Rate was 7.75% APR. Property insurance is required. PA residences only. All lines are
subject to approval and collateral evaluation. Fees and charges may apply.