Home Equity Line of Credit (HELOC)

Maybe you’re redecorating your home. Maybe you could use some money for college. Or maybe you’d like to pay off your credit cards. You know you need to borrow money, but you’re not sure how much. That’s where a HELOC comes in. It’s flexible. It’s smart. And it’s a great way to use the equity in your home to pay for the things you need in your home.

Benefits also include:

  • Lower interest rates
  • Low monthly payments
  • Variable draw periods
  • Extended repayment periods to fit your cash flow
  • Great reserve for emergencies
  • Interest may be tax deductible1
  • No pre-payment penalty
  • Minimum loan amount: $4,000

Qualifying properties:

  • Owner-occupied homestead property only
  • Single-family residence
  • Town home
  • Condominium
  • Permanently-affixed manufactured housing
  1. consult a tax advisor regarding deductibility of interest
Note: Amount borrowed cannot exceed the lesser of 50% of current fair market value or 80% of current fair market value net of other applicable liens.