Reliant Bank Mortgage Services Announces HELOC Consumer Literacy and Education Brand

Reliant Bank Mortgage Services is proud to announce a new consumer literacy and education brand – Control Your Equity (www.controlyourequity.com). Control Your Equity provides consumer literacy and education about a first-lien home equity line of credit (HELOC) now available in most states. A HELOC is a loan set up as a line of credit that can be drawn from up to a certain dollar amount and has a draw period during which you can use it like a checking account, usually 10 years. This is followed by a repayment period of typically 10 to 20 years. Control Your Equity offers completely free education about the HELOC product in a low-pressure environment.

“A HELOC can be a valuable tool for paying off your mortgage and building wealth, yet many consumers don’t know about the pros and cons of using this financial product in home financing,” says Tim Conklin, LPO Manager at Reliant Bank Mortgage Services. “Control Your Equity walks consumers through high-level education about HELOCs, typical qualifying needs, and digs deeper into the details through explainer videos and testimonials from other consumers who have benefited from this financial approach.”

In addition to learning more about whether a HELOC could help consumers pay off their home, complete a home upgrade or renovation, finance a college education, travel more, and save more money for retirement, users also have the option to download a free eBook that offers further details about the HELOC product and its benefits, including potential access to equity, payment flexibility, and how it may be used to build wealth. The eBook also includes information on strategies used and specific examples for consumers who want to contrast a HELOC with a traditional mortgage loan. “We’ve focused on providing guiding principles to give consumers a fair and honest product assessment while providing further educational material,” says Conklin.

For users who want a more customized evaluation, the site’s HELOC calculator helps consumers compare their current traditional mortgage to the HELOC product by calculating their individual scenario for benefit. The calculator also produces a report that shows the potential impact on an individual’s savings using graphic visuals.

“Consumers can also take part in a HELOC Adventure Experience where they enter basic information about their financial situation and goals and request further information from one of our HELOC specialists,” says Conklin. “Because everyone’s financial picture is different, a HELOC originator can talk in more detail about the product, answer questions, and inform on specific scenarios and advanced automation options. This conversation is designed to help consumers make educated decisions about applying.”

“The information found in Control Your Equity typically costs consumers hundreds to thousands of dollars in online courses, and it’s now available for free. We believe that providing this material to consumers honors our core value to ‘Grow Together’ while improving knowledge about this unique product and building trust in what we do,” says Jackie Weed, VP of Mortgage Operations with Reliant Bank Mortgage Services. “We hope consumers find this site a valuable resource where they’re able to increase their financial literacy and education – and potentially improve their financial situation.”

About Reliant Bank Mortgage Services

At Reliant Bank Mortgage Services, home is our foundation. Our mortgage professionals have extensive experience providing the best mortgage options for our customers, whether they are in the market to buy a new home or just want to lower their monthly payment. Founded in 2006, Reliant Bank Mortgage Services is a division of Brentwood, Tennessee-based Reliant Bank serving the Middle Tennessee market as well as markets nationwide.