Home Equity Line of Credit (HELOC)

Access equity. Revolving credit.

A Home Equity Line of Credit (HELOC) gives homeowners access to revolving credit based on their home’s equity, offering flexible funds for major expenses or projects.

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Home Equity Line of Credit (HELOC)

features

01

Revolving Credit

Access funds as needed, similar to a credit card, up to a set limit.

02

Interest-Only Payments

Option to make interest only payments during the draw period, reducing monthly expenses.

03

Flexible Withdrawals

Withdraw funds at any time during the draw period through checks, online transfers, or a credit card linked to the account.

04

Variable Interest Rates

Typically offers variable interest rates, which may be lower than fixed-rate loans.

Home Equity Line of Credit (HELOC)

Benefits

Flexible Access to Funds

Draw on your home’s equity as needed for expenses like home improvements, education, or emergencies.

Cost-Effective Borrowing

Enjoy potentially lower interest rates than other types of credit, such as personal loans or credit cards.

Adaptable to Changing Needs

Adjust borrowing and repayment based on changing financial needs and goals.

Potential Tax Advantages

Interest on a HELOC might be tax-deductible, offering additional financial benefits.

FAQs

What is a home equity line of credit (HELOC)?
How long does a HELOC take to open?
What documents are needed for a HELOC?
Do HELOCs require an appraisal?
Who qualifies for a HELOC?

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