Home Equity Lines of Credit

Home Equity Lines of Credit

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    Use past mortgage payments as collateral backing for a revolving line of credit. Use the line for practically anything — unexpected car repairs, much-needed family vacations, home remodel projects, and more.

    Unlike a loan, a line of credit is readily available — you apply for the line once, then draw on it as you need it.  Plus, you only pay interest on the amount used, and the interest you pay might be tax deductible.*

    Summary
    • Competitive, variable rates for several recurring or one-time needs:
      • Major life events
      • Home remodel projects
      • Debt consolidation
      • And more!
    • Based on loan to value ration (LTV)
    • The existing equity in your home is used as collateral backing
    • Repayment terms up to 15 years
    • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
    • Revolving credit — as principal is repaid, more becomes available for use
    • Funds easily available via check or in-person/online transfer
    • The interest paid might be tax deductible*
    • Pay interest on only the amount you use
    • Easy application process
    • Quick, local decision-making
    • Attentive, friendly service from start to finish

    What is a HELOC?

    Home Equity Early Disclosure
    *Consult a tax advisor