- Make use of the money on what you want: With a good HELOC, you can make use of the money your use getting whatever you want. Fund such as for example auto loans require that you spend mortgage proceeds on a motor vehicle. Yet not, with a HELOC, you are able to the money to have all you require.
Downsides regarding good HELOC
Regardless if HELOCs are great for specific, they aren’t just the right cure for availableness funding for everybody.