Home equity lines of credit (HELOC)
Compare mortgage and home equity loans
|Home Equity Lines of Credit
Gain benefits across the board
We offer you low-interest rates
- Home equity lines of credit
- New mortgage loans or refinances
- Various vehicle and personal loans
How much can you save?
Home Equity Lines of Credit FAQs
- What’s the difference between a home equity loan and HELOC?
A home equity loan lets you borrow up to 75% of your equity in a lump sum. A HELOC enables you to open a line of credit against the same amount, so you only pay interest on your use.
- Is a HELOC or a new credit card better?
A credit card may have a higher interest rate than a HELOC, but you can avoid interest if you pay it off every month. However, a HELOC may be the better choice if you need to carry a varying balance.
- Should I get a personal loan or a HELOC?
A personal loan may be right for you if you need to borrow a specific amount. A home equity line of credit is more useful when you are not sure how much you’ll need for a home renovation project.
- How much credit can I get with a HELOC?
The dollar amount of your credit line will depend on the loan-to-value (LTV) ratio. LTV is determined by how much your home is valued compared to how much your loan is. Your maximum will be 75% of your equity.
- What do I need to open a HELOC?
You will need your current mortgage statement plus your two most recent pay stubs to get started with your home equity line of credit application. From there, we will use various means to establish your creditworthiness and the maximum credit limit you can borrow.
- Home Equity Loan rates and payments are determined by individual credit standing and appraisal value. Please call for complete details and the most current rates.
- Consult your tax advisor regarding the deductibility of interest.
- We do business per the Federal Fair Housing Law and Equal Credit Opportunity Act.
- APR = Annual Percentage Rate and is listed "as low as." Mortgage rates excluded; call for APR. APRs can increase after the loan consummation if the loan terms allow an APR to increase.