Home Equity Line of Credit (HELOC)
You can access the equity in your house for various reasons like paying down high-interest debt, remodeling your home, or affording tuition. Whatever it may be, get a HELOC and your payment will be based on how much you borrow. It's that simple!
Take up to $500K for a primary residence ONLY
10-Year Draw Period, 20-Year Payback Period
Borrowers MUST meet qualifications
Variable Interest Rate based on WSJ Prime Rate
Combined Loan-to-Value ratios up to 89.99% between your 1st mortgage & your new HELOC!
Interest rates for HELOCs are lower compared to taking out personal loans or using credit cards
Available payments include interest-only OR interest & principal for both stand-alone and concurrent HELOCs