Home Equity Line of Credit
If You Are Dreaming Big, Tap Into Your Home's Equity
When the right opportunity comes along, you should be able to take advantage. Our Home Equity Line of Credit option is a great way to fund all of your planned and unexpected expenses. We offer competitive rates and local decision-making so you can get an approval quickly. Let us help put your home equity to work for you, from home improvement projects to paying for college.
WHAT'S THE DIFFERENCE BETWEEN A HOME EQUITY LOAN
AND A HOME EQUITY LINE OF CREDIT?
With a Home Equity Loan, you borrow the sum of money upfront and make a fixed payment. With a Home Equity Line of Credit (HELOC), you borrow the money as you need it. A HELOC works similarly to a credit card, as it is a revolving line of credit. A HELOC will charge interest at an adjustable-rate that can change at the beginning of each month. We notify our clients each time the rate changes.
WHAT ARE SOME OF THE BENEFITS OF A HOME EQUITY LINE OF CREDIT?
Your equity in your home can be used to secure a line of credit. Based on the equity you have built thus far, we’ll establish a borrowing limit. You can borrow cash anytime. You’ll only pay the interest, and as you pay down your balance, you can re-borrow up to your limit.
Contact our friendly personal bankers to discuss your options.
*All loans subject to credit approval.