Home Equity Loans: Everything You Need to Know to Get Started E10
Good Money Moves
In episode 10 of the Good Money Moves podcast, titled "Home Equity Loans | Everything You Need to Know," Jenna Taubel, AVP of Marketing, is joined by Andrea Allen, Chief Revenue Officer at First Alliance Credit Union. Andrea shares expert insights on how home equity loans and home equity lines of credit (HELOCs) work, who they’re right for, and how to use them wisely. She explains the key differences between the two options, how to qualify—even after financial setbacks—and how to avoid common pitfalls. From remodeling your kitchen to consolidating high-interest credit card debt, this episode offers practical, plain-English guidance for making confident, informed decisions about tapping into your home’s value. Plus, Andrea outlines what to expect during the application process and how a HELOC can save you money compared to traditional credit card debt. Stick around for practical tips on qualifying (even after a rough patch), what the application costs really look like, and why a HELOC can beat a 25 % credit‑card rate every time.
You’ll learn:
The difference between a home equity loan and a HELOC
How each option works (and what the risks are)
Real-world examples of how people use them smartly
What it takes to qualify—even if you’ve had financial setbacks
Why a HELOC can be a smarter move than racking up 25% interest on your credit card
📚 Resources & Next Steps
What is a Home Equity Loan? The Burns Family Example — https://www.firstalliancecu.com/blog/what-is-a-home-equity-loan
How to Estimate HELOC Payments How to Estimate HELOC Payments —
https://www.firstalliancecu.com/blog/how-to-estimate-heloc-payments
Home Equity Loan vs. HELOC: What's the Difference? — https://www.firstalliancecu.com/blog/home-equity-loan-vs.-heloc-whats-the-difference
For more helpful resources, visit First Alliance Credit Union: https://www.firstalliancecu.com/
First Alliance Credit Union is federally Insured by NCUA & an Equal Housing Lender
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