aRTICLES

For those who have served, a home is more than a purchase — it’s stability, dignity, and a reward for years of sacrifice. Yet every year, thousands of veterans miss out on powerful financial benefits they’ve fully earned through their service.

Whether you’re buying your first home, looking to lower your payment, or thinking about tapping into your equity, this guide breaks down how to maximize every single benefit available to you.

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A HELOC allows you to borrow against your equity, which is the value of your home less the amount owed on your principal mortgage. You can also receive a HELOC if you own your home entirely, in which case the HELOC is the top mortgage rather than a second one. When looking for a loan, borrowing against the equity in your home can frequently earn you the best rate. A HELOC, like a credit card, enables you to draw against your spending limit as often as needed. You may borrow against your home equity, repay, and repeat.

The interest rates on most HELOCs are adjustable. This implies that if the benchmark interest rate changes, so will the interest rate on your HELOC. However, since a HELOC is secured against the value of your home, the interest rate is often closer to a mortgage rate than a credit card rate. Let’s go through this more.

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