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Evans Attwell

Senior Vice President

Frost Private Banking

What do you want to accomplish before the year ends?

Maybe you’d like to update your home or weekend hideaway with a major remodeling project. Or it’s time you take the dream vacation to Europe you’ve been promising yourself for years. Perhaps your interests run to something more pragmatic, such as paying off a high-interest loan or credit card balance, or laying out the funds this fall for your son’s college tuition.

Whatever you want—or need—to do this year, you may not have to look any further than your own home to make it happen. How is that possible? You can tap into the equity in your home for a loan that enables you to make your needs, wishes and dreams a reality, faster and easier than you may imagine.

What is a HELOC?

Like many people, you might already be familiar with a home equity loan that provides a lump sum of cash at a low, fixed rate of interest and is repaid in predictable, fixed monthly payments. But you may not know as much about its increasingly popular cousin—the home equity line of credit (HELOC)—that offers the advantages of a home equity loan with the flexibility to borrow just what you need as you need it.

The HELOC is simply a line of credit based on the value of your home’s equity. Once your maximum credit amount is approved, you may draw on it at your discretion—for planned expenses, unexpected emergencies, whatever your need is—large or small.

Think of it as a ready reserve and a renewable resource for additional funding, up to your loan limit. You make loan payments only on the amount of the credit you actually use, at variable rates of interest that are generally lower than most other types of loans. Your loan payments may even be tax deductible; your tax advisor can provide complete information.

Then, as you repay your outstanding balance, the amount of available credit is replenished. That means you can borrow against your line of credit again and again without reapplying.

The time is right

Although the HELOC is not a new idea, it is getting fresh interest right now because of historically low interest rates and strong Texas property values. That’s why you may be seeing aggressive marketing for these loans in Houston.

You will want to ensure that you choose a lender that offers you the best combination of experience, safety and security, ease of doing business, customer-oriented service, and competitive products with the features and benefits that make them right for your needs.

Contact Evans at 713. 388.1367 or This email address is being protected from spambots. You need JavaScript enabled to view it..