Home Equity Line of Credit
Our Home Equity Line of Credit (HELOC) is perfect for expenses in which you may not need the money all at once. You can access the available funds as needed throughout a 10-year draw period. Once the draw period ends, there is a 10-year repayment period, and no annual fee during the entire loan term. We will lend up to 85% of the appraised value in your home, minus the balance of your first mortgage (if applicable). Our HELOC may be used for many reasons, including:
- Home renovations, repairs, or improvements
- Debt consolidation
- Education expenses: tuition, books, room and board
- Having money on standby when you need it
Fixed Rate Home Equity Loan
Our Fixed Rate Home Equity Loan is the perfect solution for one-time expenses. It offers a fixed rate and monthly payments that do not change during the entire life of the loan. Loan terms are more accommodating, so you can choose the option that best fits your needs. We will lend up to 85% of the appraised value in your home, minus the balance of your first mortgage (if applicable). Our Fixed Rate Home Equity Loan may be used for many reasons, including:
- Refinance a variable-rate home equity line of credit
- Consolidate variable-rate credit cards
- Home renovations, repairs, or improvements
- Appliances or furniture
- Medical or veterinary expenses