Using a HELOC for Home Improvement Season

It’s Sunday afternoon, the house is sparkling after a long weekend and inspiration is flowing. You want a new bathroom, new light fixtures, new cabinets in the kitchen, or perhaps you’ve decided you want white trim instead of the old brown wood. Either way, there is nothing stopping you from being able to do some home improvement this spring.

What about your wallet? Your home is your wallet.

Home Equity Lines of Credit (HELOC) have made it possible for homeowners to make improvements on their home without tapping into savings or putting a dent in their checking account. HELOC’s use your home as collateral; allowing you to borrow up to a certain amount and essentially functioning like a credit card. You can borrow all at once or over a draw period.

Missouri Central Credit Union, for example, provides a 10 year draw period and up to 15 years to repay. You can even borrow up to 95% of your appraised value. The draw period is essentially the amount of time you can withdraw money from your credit line. The flexibility to withdraw money whenever you want allows you to spend the money on whatever you want. Whatever I want? Yes. While we think you deserve new cabinets and a coat of fresh paint in the living room, a HELOC can actually be used on ANYTHING from student loan debt to your dream vacation, but we’ll save that for another blog.

See how much money you can get using our HELOC calculator.



The appraised value of your home is its current value. Having your home appraised means finding the true current value. Home improvement can significantly increase the value of your home.

Mortgages you owe is the total of all outstanding mortgages on your home. This total should include your first mortgage, second mortgage, and any other debt secured by your home.

Loan-to-value ratio is the percent of your home’s appraised value that your lender will allow you to have. For example, let’s say your home is appraised at $100,000. An 80% loan-to-value ratio will allow you to have $80,000 in debt.

Looking for Home Improvement Inspiration?

Kansas City has become a hub for home improvement as world-renowned designers and architects are bringing their passions to life here. Home improvement season isn’t just a made-up term describing the months after Christmas that you should  be working on your home and spring cleaning.

Home Improvement Season is Real and It’s Here. 

Restore, Refresh, Renew.

Find your inspiration at some of the upcoming home shows in Kansas City this home improvement season.

January 26-28, 2018: Johnson County Home + Garden Show
February 9-11, 2018: KC Remodel Home + Garden Show
February 23-25, 2018: Log & Timber Home Show
March 23-25, 2018: Greater Kansas City Home Show

These shows are affordable and offer the BEST eye candy you can find in the home improvement world. Starting this Thursday, the Overland Park Convention Center will be packed full with innovation products and hundreds of design experts. The show will give you answers to all of your questions from landscaping to windows and flooring. Also, let’s not forget the amazing deals you can get with a ticket to the Johnson County Home Show.



Fun Fact:
One gallon of paint can cover 350-400 square feet of your home. You’re already one step closer to getting the job done now.

So maybe you’re going to DIY this year and think that you can do some home improvement, like painting a room, without needing a HELOC. There are other options! A home improvement loan is great for smaller projects and renovations. Home improvement loans from Missouri Central are great for a number of reasons.

  1. Home improvement loans may qualify you for the Member Bonus Dividend program, so you earn money back from your loan.
  2. We offer the best home improvement rates in Lee’s Summit, seriously.
  3. Our home improvement loan requirements are limited, making it easy to qualify for a loan.
  4. We offer PERSONAL service. Any questions you have regarding your loan will have always come with an answer from one of our loan officers at Missouri Central.

Our Member Bonus Divided program gave back a QUARTER OF A MILLION DOLLARS to our members in 2018. Worth it to be a part of? Definitely!

Whether it be a HELOC or a home improvement loan, your projects are sure to pay off in 2018, so it’s worth it to take the next step using your home show ideas and support from Missouri Central Credit Union.

But what projects will give you the best ROI in 2018? Believe it or not, they have changed in 2018 and Realtor.com has the official list:

  1. Garage Door Replacement
  2. Stone Veneer
  3. Wood Deck Addition
  4. Minor Kitchen Remodel
  5. Siding Replacement
  6. Vinyl Windows

View the entire list of home improvement projects offering the best cost-value in 2018.

We firmly believe that 2018 is the year you can have a Jacuzzi bathtub right in the middle of your bathroom with a flat screen TV mounted on the wall. Why? Because a HELOC says you can.

On average, according to Home Advisor, the cost to install or replace a new bathtub costs approximately $3,044. The cost of a new 40-inch television can range from $150.00 to $400.00. This being said, your new bathtub could be covered by a home improvement loan or a HELOC

Whichever route you decide to take towards home improvement and your dream bathroom, Missouri Central Credit Union in Lee’s Summit has you covered.

Aside from the interior, landscaping is another project that we think is sure to increase the value of your home. It is amazing what a little bit of gardening and hardscaping can do for a home’s curb appeal. A great outdoor space will also work wonders on your sanity. Who needs a Jacuzzi tub in the middle of the bathroom if you can install one in your outdoor space?

  • Curb Appeal
  • Sanity
  • Jacuzzi

Apply for your HELOC from Missouri Central Credit Union today and start improving yourself and your home.

Happy Home Improvement Season 2018!

Together We Thrive.