Home Equity Line of Credit
Imagine a brand-new kitchen, a backyard oasis, college tuition covered, and debt paid down. A HELOC (Home Equity Line of Credit) allows you to tap into your home’s equity to fund what matters most to you.
Unlike a traditional loan, a HELOC offers flexible access to a revolving line of credit, allowing you to borrow only what you need when needed. Pay a contractor today and cover an unexpected expense next year. It’s your home, your terms.
- Interest-only payments during the draw period
- Reusable credit line
- Closing costs are often lower than on a full refinance. Ask your Loan Officer for an estimate of the fees to open your line.
- Access funds shortly after closing (for primary residences, after the 3-business-day right-to-cancel period).
- Borrow up to 85% of your home’s appraised value, minus your current mortgage balance. Combined loan-to-value limits apply; subject to credit approval.
- Use your HELOC for home renovations & upgrades, debt consolidation, education expenses, vehicle purchases, or emergency funds
