En el contexto de los cuantiosos y crecientes costos de una boda, encontrar fuentes de financiación puede ser todo un desafío.
La boda promedio costó aproximadamente $35,000 en 2023, según el popular sitio web de planificación The Knot. That's not even counting the engagement ring. Throw in the ring and a honeymoon, and you're adding another $5,000-$10,000. ¡Caramba!
If you're like most Americans, your savings could be a little thin by comparison. But don't automatically gravitate toward a credit card or personal loan. Si usted es propietario de una vivienda, todo el dinero que necesita podría estar en su valor neto. Considere una línea de crédito sobre el valor neto de la vivienda, o HELOC, por ejemplo.
Tasa de interés más baja
You can easily score an APR in the single digits with a HELOC - for example, check out our HELOC rates. That can mean massive savings when you compare it to average credit card rates at 20% or higher!
Más dinero
Puede obtener mucho más que con un préstamo personal cualquiera. Personal loans are unsecured, meaning they're not backed by any collateral, and therefore have lower limits. With a HELOC, you can get up to 100% of your home's equity, which in many cases will get you closer to that $35,000 figure.
Flexibilidad
A diferencia de un préstamo tradicional, solo paga lo que usa con una HELOC. The line of credit is simply there for you when you need it for as long as the withdrawal period. You'll also get much longer to pay it back as HELOCs can often provide up to 20 years past the withdrawal term.
So, keep that dream wedding within reach with a HELOC. With lower interest rates and higher limits, it's a smart way to borrow and take the "yikes" out of wedding plans when costs get overwhelming.
Prefer a traditional closed-end loan with fixed rates? Learn about our fixed-rate home equity loan.
