Home Equity Line of Credit
Looking for borrowing flexibility? A Home Equity Line of Credit (HELOC) is a great fit for many homeowners because it allows you to borrow only what you need, when you need it. Funds can be used for any purpose, at any time, simply by writing a check. Best of all, a Home Equity Line of Credit typically offers a lower interest rate than most traditional loans or credit cards, and the interest may be tax-deductible.1 Call 1.800.468.1100 to talk with a Banker about how a Home Equity Line of Credit can help meet your financial needs today, as well as tomorrow! You can also review our rates and apply online.
- Payment Options
• Automatic Payment System
• Statement Billing
- Interest Rate
Can change monthly (adjustments are based on the Prime Rate as published in the Wall Street Journal)
10 Year Draw / 10 Year Repayment
$10,000 to $24,999 = Prime + .50%; Max CLTV 70%
$10,000 to $24,999 = Prime + 1.25%; Max CLTV 75%
10 Year Draw / 20 Year Repayment
$25,000 to $500,000 = Prime + .25%; Max CLTV 70%
$25,000 to $100,000 = Prime + 1.00%; Max CLTV 75%
- Loan Amounts
Minimum $10,000; Maximum $500,000
Up to 75% combined
- Property Types
- Owner-occupied single family residential property
- Special Features
$50 annual fee waived for first year
Interest may be tax deductible3
1. Property insurance is required. (and flood insurance, if applicable).
2. Maximum Annual Percentage Rate (APR) is 18%. Minimum APR is 4%. See rate sheet for current APRs. Prepayment fee is the lessor of 2% of line max amount or $350 if account closed within first 36 months. The information and product selection offered in this brochure is subject to change without notice.
3. Consult your tax advisor regarding the deductibility of interest.