Home Equity Line of Credit
A home equity line of credit is a revolving line of credit that uses your home as collateral. Because it is a line of credit, you can get the money you need when you want it.
- LOW rates and FIXED for up to 5 years!
- Variable rates tied to prime
- You can use the money for whatever you want!
- It's a smart way to consolidate debt, pay off high-interest loans, or even finance a home improvement project, vacation, wedding or college tuition
- Access funds as you need them using your line of credit checks
- Pay interest only on the portion of the line you use
- Converts to repayment after 5 years
Home Equity Loan
A home equity loan is based on the available equity in your home. You get your money all at once and then pay it back in predictable, monthly payments.
- Fixed Rate
- Up to $50,000
- 10-year repayment
- Variable Rate
- 15-year repayment
- Receive your entire loan amount in a lump sum
- You can use the money for whatever you want - wedding, college tuition, debt consolidation, etc.
- Home Improvements
Buying a new home, but haven't sold your current one yet? A Bridge/Short-Term Loan may be the perfect solution. It allows you to use equity in your current home as a down-payment on your new home.