DIY Projects Made Possible With Home Equity Loans

Phone with picture of a gift box on it, held in front of a wall of tools.

When planning for a big project, one of the first questions you may ask is whether you can save money and just do it yourself. A do-it-yourself project, or DIY as most of us call it, is an increasingly popular way to keep projects budget-friendly. Most DIY projects fit into our busy schedules but fitting them into a budget can seem like an even bigger task.

FECU wants to help with your to-do list by giving you $50 VISA® gift card to use on your next project! All Home Equity Line of Credit Loans with a minimum draw of $10,000 and new Home Equity loans* minimum of $10,000  funded in September 2022 will get a $50 VISA® gift card to put towards DYI projects!

Home Equity

Always wanted to update your landscaping, put in a fire pit, or install a tile backsplash? A Home Equity enables you as a homeowner to borrow money by using the equity of the home as collateral. The loan amount can be used for home improvements or whatever life throws at you.  You can chose between a fixed rate, fixed payment Home Equity loan or a Home Equity Line of Credit, which is a variable rate loan and is a revolving form of credit with a limit that you can borrow up to as you need it. Check out the wide range of  Home Equity loan options or Contact Us to learn more. 

Budget Tips for DIYers

DIY projects are supposed to be quick and easy jobs that anybody can do. The first step is doing your research and creating a list of materials, tools and other costs like shipping or pulling permits. Estimating the costs will help you calculate if it makes sense to take on the project yourself. Once you have an estimate of the time and prices make sure you are sticking to that plan so you stay on budget. Some projects you can probably DIY, but others are better left to experts. You should always seek help when you need a pro.

 

* Some restrictions may apply.  Learn more about Travel and Gift Cards . Home Equity Loans are available to members who own a home in Minnesota, Arizona, Georgia, Kansas, Missouri, and Indiana. Federated Employees Credit Union is an Equal Housing Lender. FECU does not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

This information is intended to provide general information regarding available loans only.  

Consult a qualified professional with questions regarding the topics herein. All information is for education and entertainment purposes only it should not be considered legal or expert advice regarding your specific circumstances. As with any do-it-yourself project, unfamiliarity with the tools and process can be dangerous.

Published Date:September 01, 2022

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