Home Equity Line of Credit (HELOC)
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 When the draw period ends, any outstanding amount withdrawn from your home equity line of credit (HELOC) will become a fixed rate loan, and you will make monthly principal and interest payments.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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Home Equity Line of Credit (HELOC) RatesApply Now
|Loan Type||Closing Costs||APR||Ex: Line Amount||Ex: Interest-only Monthly Payment (10-year draw)||Ex: Monthly Payment (15-year fixed rate)|
|Variable Line of Credit||None||8.250%||$100,000||$687.50||$970.14|
|Variable Line of Credit with promo rate for first 12 months||Paid by Customer||5.25% first 12 months; 8.250% months 13-120||$100,000||$437.50 for 12 months; $687.50 for 108 months||$970.14|
Interest Rates Effective: 03/16/2023
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. 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 P&I 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. Rate, terms, and fees are subject to change without notice. Subject to credit approval. Ask us about additional available loan programs.