Home Equity Loans
What are some smart ideas of how I can use a home equity loan?
Funding an Improvement
project
![Basic Savings at City Bank and Trust Company](https://www.mycitybank.com/wp-content/uploads/2020/09/CBT-Basic-savings-business-2.png)
Home improvements are one of the most common uses for home equity loans and can help boost the value of your current home. Home equity loans can be one of the most affordable ways to remodel your home.
consolidating personal debt
![Hi Fi Money Market Account at City Bank and Trust Company](https://www.mycitybank.com/wp-content/uploads/2020/09/CBT-Hi-Fi-Money-Market-2.png)
Home equity is commonly used to pay off personal debt and help you manage your monthly bills. Taking out these loans can help you consolidate high-interest debt at a lower interest rate.
starting your
own business
![Non Profit Business Checking at City Bank and Trust Company](https://www.mycitybank.com/wp-content/uploads/2020/09/CBT-nonprofit-checking-2.png)
Whether you are starting a company from scratch or opening a franchise, home equity loans can help you access money that you may not have had in your personal savings and something to consider when weighing business financing options.
emergency expenses
![Shoebox Savings at City Bank and Trust Company](https://www.mycitybank.com/wp-content/uploads/2020/09/CBT-shoebox-savings-2.png)
Job loss, medical bills and unexpected expenditures can become expensive. Events like these are when your home equity can work for you.