Home Equity Line of Credit (HELOC)
With no closing costs and rate lock options, there's no better time to apply for a line of credit! Our HELOCs come with:
- No closing costs
- Fixed rate options allow you to lock in consistent payment amounts if interest rates increase (fees apply)
- Use your credit line all at once or in increments, right away or at a later date.
A line of credit, tied to the equity in your home, provides ongoing access to funds. Monthly payments vary based upon the amount of line usage advanced. A home equity line of credit may be right for you if you want access to your money over a period of time.
- Competitive rates
- Secured by the equity in your home
- Available line is based upon a percentage of your LTV (loan-to-value) for qualified borrowers
- Monthly payments are based upon your usage
- Available all at once or in increments, right away or at a later date
- Interest may be tax deductible (consult your tax adviser)
- May access via a debit card
Term: 10 year draw period followed by repayment period of 20 years on any remaining balance. Interest Rate: Interest rates will be based on Wall Street Prime; 3.50% APR as of 12/17/15. Maximum APR: 25% Annual Fee: $75 will be charged annually and is waived the first year. Line can be closed at anytime with no early termination fee. Rates and Terms are subject to change. Property insurance required. All rate locks expire at the end of the draw period. Subject to credit approval.