THE top 3 home renovations ARE...
Other Projects 11%
HELOCs ARE ATTRACTIVE BECAUSE THEY PROVIDE...
- 32The ability to borrow as needed over time
- 24Greater flexibility for use of the loan
- 23The necessary cash to renovate my home
BIGGEST FACTORS WHEN CHOOSING A HELOC:
HELOCs ARE ATTRACTIVE TO MILLENNIALS
Millennials are most likely to currently have a HELOC
- Millennials 30%
- Gen-X 16%
- Baby Boomers 12%
Millennials are more likely to apply for a HELOC in the next 18 months than people in any other age group.
74% of millennials express confidence in their knowledge of how HELOCs work and want to use the loan to create their dream home.