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Home Equity Options

Home Equity Options

A home equity line of credit, commonly referred to as a HELOC, gives a borrower the opportunity to secure a line of credit using their home’s current value. A home equity line of credit is used for purchases like education, home improvements, medical bills and debt consolidation. However, you can use the credit anyway you choose.

Home Equity Line of Credit

Use the equity in your home to secure a revolving line of credit. Has a fixed variable rate throughout the term of the loan. Give you the ability to borrow money as you need it.

  • Fixed or variable rates
  • 10 year draw period
  • 15 year repayment period

Home Equity Installment Loan

Similar to a HELOC but is financed in one lump sum. Has a fixed rate for the entire life of the loan.

  • Fixed rate and term

 

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