Home Equity
Accomplish more with a Home Equity Line of Credit.
Your home is likely your biggest investment. Fortunately, homeownership comes with some stellar financial perks and opportunities. Case in point: the Home Equity Line of Credit (a.k.a., the HELOC). With a HELOC, you can tap into the value of your home to pay for a remodel, cover major expenses, or simply give yourself the financial flexibility to accomplish your goals.
It’s a quick, easy way to access money for special projects or any of life’s expected (and unexpected) events.
Home Equity Master Line
Repayment Terms: 10 year draw and up to 15 years to repay on a Loan to Value ratio up to 85% for select credit tiers.
Features:
- Line of credit to use for up to 10 years, with an additional 15 years to repay.
- Lock in 3 loans under one line of credit.
- Check writing options.
- No application fee.
- Loans up to $500,000.
- Available on vacation homes.
- Interest may be tax deductible, consult your tax advisor.
Rates may change at any time. Other terms and conditions may apply.
Minimum monthly payments during the draw period will be determined on the balance.
7.25-9.75%APR*10 year draw & up to 15 years to repay.
Home Equity Master Line – Interest Only
Repayment Terms: 10-year draw and up to 15 years to repay on a Loan to Value ratio up to 85% for select credit tiers.
Features:
- Line of credit to use for up to 10 years, with an additional 15 years to repay.
- Interest-only payments during the 10-year draw period.
- Lock in 3 loans under one line of credit.
- Check writing options.
- No application fee.
- Loans up to $500,000.
- Available on vacation homes.
- Interest may be tax deductible, consult your tax advisor.
Rates may change at any time. Other terms and conditions may apply.
Minimum monthly payments during the draw period will be determined by accrued interest.
7.25-9.75%APR*10 year draw & up to 15 years to repay.
Lock-In Options
Lock-In Option – Variable
Repayment Terms: 5, 10, 15, or 20 years.
Lock in a portion of your Home Equity Master Line to an interest rate that is fixed for 5, 10, 15, or 20 years based on Wall Street Journal plus a margin. As you repay the principal, your availability to borrow from your Home Equity Master Line will increase. OR, as you repay the principal portion that is locked in, these funds will be available to borrow through your Home Equity Master Line. Lock fee of $25 may apply.
7.50-10.50%APR*Terms 5, 10, 15, or 20 years
Lock-In Option – Fixed
Repayment Terms: 5, 10, 15, or 20 years.
Lock in a portion of your Home Equity Master Line to a fixed interest rate for 5, 10, 15, or 20 years. As you repay the principal, your availability to borrow from your Home Equity Master Line will increase. Lock fee of $25 may apply.
7.50-11.50%APR*Terms 5, 10, 15, or 20 years
HELOC Blog Posts
*Rate current as of effectivedate. Variable rate based on Wall Street Journal Prime plus margin. Margin amount depends on creditworthiness, loan to value ratio, occupancy status, and repayment terms. Current APRs range from 7.25%-9.75%. Maximum APR is 18.00%, Minimum APR is 3.49%. Estimated account opening fees $300.00- $700.00; these fees vary depending on circumstances and an appraisal may be required. Rate includes .25% reduction for autopay. Property insurance is required; flood insurance may be required. A $25.00 annual fee will be assessed. Financing is subject to credit approval and other underwriting criteria.