Home Equity Line of Credit
Use the equity you have built up in your home to remodel, pay for tuition, consolidate bills, or whatever you need.
Apply online, over the phone or visit a convenient branch.
| Home Equity Line of Credit (HELOC) | Home Equity Loan |
| Line of credit | Fixed term |
| Variable rate | Fixed rate |
| Take out funds as you need them | One time disbursement of funds |
| May be tax deductible¹ | May be tax deductible¹ |
| Credit limits from $5,000 up to $100,000² | Credit limits from $5,000 up to $100,000² |
| Payment varies based on the amount used | Fixed payment amounts |
| Interest only payment option or traditional interest and principal | Interest and principal payments |
| 10 year draw and 10 year payback period | Terms up to 20 years |
¹ Consult your tax advisor concerning your personal situation.
² Depending on equity, creditworthiness and loan approval.
