HELOC - Home Equity Line of Credit

A home equity line of credit allows you to tap into the equity in your primary residence and to use that equity for a multitude of purposes. Perhaps you want to finance a child's college education, consolidate other high-rate debt, complete home improvements, purchase a new car, take a vacation, etc.

With a HELOC, a loan or line of credit account is set up for you to access as you need the funds. You will be charged interest as you take draws/funds from this account. Funds are accessed as you write checks that we provide to you. The minimum payment required on a HELOC is interest only; however, you may make additional payments to the principal balance at any time.

Installment Home Equity Loan

An installment home equity loan may have a fixed or adjustable interest rate. We will disburse funds to you in one lump sum, and we require the loan amount to be repaid in monthly principal and interest installments. We have many loan terms available.

 

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