Unlike a loan, a line of credit is readily available — you apply for the line once, then draw on it as you need it.
- Competitive Rates
- Flexible Terms
- Local Decisions
- Use your equity for things such as:
- Major life events
- Home remodel projects
- Debt consolidation
- And more!
- Rate based on loan-to-value ration (LTV)
- Funds available anytime for the first 10 years
- 15 year repayment after the initial 10 year period is up
- Revolving credit — as principal is repaid, more becomes available for use
- Transfer funds to your checking account for easy spending
- The interest paid may be tax deductible*
- Pay interest on only the amount you use
- Easy application process
What is a HELOC?
Interest Only HELOC
Ideal for members:
- With fluctuating income
- Who plan on selling their home after renovations
- Who need a large sum of cash for an investment
- Who need to minimize monthly payments
- Making a down payment on a second home before selling their first
*Consult a tax advisor.