Financial Spring Cleaning: Securing your mortgage or home equity line of credit

<span style="font-weight: 400;">Home is more than walls and a roof; it’s where we create memories and plan for the future. Home is also a major source of collateral that can be tapped to meet long-term financial goals or cover life’s unexpected expenses.</span> <p><span style="font-weight: 400;">Financial Tea in the Morning is back with a new season, new hosts, and spring cleaning tips to refresh your money mindset. Where better to start than at home?</span></p> <p><span style="font-weight: 400;">Hosts Andrea Klunder and Josh Stringer discover strategies for turning one of life’s biggest investments into instant cash. They also learn how credit unions ensure that members get the best fiscal fit––with guests Marco Padilla, Chief Lending Officer, Del Norte Credit Union, and Ever Acosta, home equity loan specialist, Del Norte Credit Union. </span></p> <p><span style="font-weight: 400;">Two of the most popular lending options at a homeowner’s disposal are the home equity loan and home equity line of credit, or HELOC. </span><span style= "font-weight: 400;">A home equity loan allows borrowing at a fixed rate with a locked-in monthly payment. </span></p> <p><span style="font-weight: 400;">On the other hand, HELOCs are attached to fluctuating or variable interest rates. These funds remain accessible via a line of credit, allowing folks to plan, within reason, for the unexpected.</span></p> <p><span style="font-weight: 400;">No home yet? No problem! Credit unions provide first-time mortgage applicants with competitive rates and community-focused financial literacy.</span></p> <p><span style="font-weight: 400;">“Even if you don't do the loan with us, I'll actually sit with members and say, ‘Let's go over the paperwork, so you make sure you understand what you're getting,’” says Marco. “That's not a sales technique; that's just us. We want our members to get the best.”</span></p> <p><strong>Financial Tea Hot Sip:</strong> <span style= "font-weight: 400;">Now’s the time to spring into economic action! Pick up the phone or v