Home Equity Line of Credit (HELOC)
Could you use a low-interest line of credit that’s available when you need it?
Tap into your home equity to enjoy lower rates than most credit cards or personal loans, and only pay interest on the amount you use during the draw period. When the draw period ends, any outstanding amount withdrawn from your home equity line of credit (HELOC) will become a fixed rate loan, and you will make monthly principal and interest payments. HELOCs can help finish home renovations, or pay off higher-interest loans, credit cards, tuition, and more!
Our team of experts can walk you through your best options to take advantage of the equity you have built with your home.
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To learn more about the rates and fees that apply to our Home Equity Line of Credit, click to view HELOC Disclosures and What You Should Know About HELOC.
Questions? Contact Us for follow up from our team. We're happy to help!
Home Equity Line of Credit (HELOC) Rates
Apply Now| Loan Type | Closing Costs | APR | Ex: Line Amount | Ex: Interest-only Monthly Payment (10-year draw) | Ex: Monthly Payment (15-year fixed rate repayment) |
|---|---|---|---|---|---|
| Variable Line of Credit | Paid by Bank | 9.250% | $100,000 | $770.83 for 120 months | $1,029.19 |
| Variable Line of Credit with promo rate for first 6 months | Paid by Customer | 7.490% first 6 months; 9.250% months 7-120 | $100,000 | $624.17 for 6 months; $770.83 for 114 months | $1,029.19 |
Interest Rates Effective: 4/26/2024
Example rates are based on a primary residence and borrower credit score of 700. Assumes the borrower has a first lien mortgage and the home equity line is a second lien on subject property. Closing costs may range between $737 and $3,500. Variable rate may increase after closing, as it is determined by WSJ Prime + a margin with a minimum APR of 4.25% and a maximum APR of 18.00%. Max 80% LTV. Loan terms include a 10-year interest-only draw period and converts to a 15-year fixed rate term with principal and interest payments based on current interest rate in effect at time of conversion. APR (Annual Percentage Rate) is based on loan amount, interest rate, LTV and credit score. Example monthly payments quoted include principal and interest only. Actual payments may be higher if they include taxes and insurance. There is a $100 annual fee to maintain a Home Equity Line of Credit. Rate, terms, and fees are subject to change without notice. Subject to credit approval. Ask us about additional available loan programs.