Home equity loans and lines of credit allow you to use the equity in your home to reach your financial goals. Whatever your plans – – home improvement, debt consolidation, dream vacation – – home equity loans and lines of credit can be the answer to many of your borrowing needs. The interest you pay may be tax-deductible (consult your tax advisor to learn more).
Home Equity Line of Credit (HELOC)
A HELOC works like any other revolving line of credit, allowing you to continually borrow and repay funds within your approved credit limit. Your payment is based on the amount you borrow.
Home Equity Loans
A home equity loan provides a fixed rate of interest and fixed payment amount over a defined period of time and is not revolving. Funds are disbursed in one lump sum.
All loans are subject to credit Approval