Home Equity Options

What is a HELOC?

A home equity line of credit, commonly referred to as a HELOC, gives a borrower the opportunity to secure a line of credit using their home’s current value.

What can I use a HELOC for?

You can use a HELOC to pay for almost anything. Often people will use a home equity line of credit for big purchases like home improvements, medical bills and debt consolidation.

A HELOC can be used to fund a range of spring projects, like outdoor landscaping, kitchen or bathroom renovations, creating outdoor living spaces, and addressing maintenance tasks like replacing windows and doors or enhancing curb appeal with driveway resealing or roof repairs. However, you can use the credit anyway you choose.

Home Equity Options

Home Equity Line of Credit

Use the equity in your home to secure a revolving line of credit. A HELOC gives you the ability to borrow money as you need it.

• Variable rate currently 6.25% APR*
• No closings costs
• No annual or application fee
• 10-year draw period
• 15-year repayment period
• Borrow up to 95% of home's value

*Annual Percentage Rate effective November 8, 2024. The rate of interest is variable, with a ceiling of 16% APR and a floor of 5%. Rates subject to change. Property insurance is required. All loans subject to credit approval, terms and conditions apply.

Home Equity Installment Loan

Similar to a HELOC but is financed in one lump sum. Has a fixed rate for the entire life of the loan.

• Fixed rate and term