Home Equity Credit Line
Turn your home's equity into cash with a Home Equity Credit Line. Whether you want to make improvements to your home, take care of emergency expenses or consolidate debt, we're the ones who can help!
You've worked hard to build equity in your home, and with a home equity line of credit we can put yours to work! You can enjoy ongoing access to funds for home improvements or to cover major expenses in a pinch. You can borrow up to 90% of the value of your home and our competitive variable rates allow you to borrow what you need when you need it, and only pay interest on the money you've used. As you repay your principal, that money becomes available to borrow over and over again.
- No annual fees
- No fees or penalties for early payoff
- A low $50.00 loan fee gets you started. We pay all other closing costs.
- Different payment options available. We will work to find the best one for you.
- Easy access by check, phone, or online transfer*
- Choose how you want to pay from our flexible payment options, including interest-only payments for those who qualify**
There is a onetime $50.00 fee to open the Home Equity Line of Credit. A fifteen year loan in the amount of $20,000, interest rate of 5.25%, with a monthly principal and interest payment would have a periodic rate of .0143836% with a 5.25% APR. This loan may result in a balloon payment. The maximum APR for this example would be 11.25%. This example is based on using a rate of the Wall Street Journal U.S. Prime Rate plus 0.500 percentage points.
*Restrictions may apply
**If only minimum payments are made on an interest only HECL, the loan balance will not decrease. Choosing an interest only repayment will cause your monthly payment to increase, once your credit line transitions into the repayment period.
Repayment options may be based on credit qualifications. Loans are subject to credit approval and program guidelines.