We’re all about helping you get the most out of life – right now and the right way.
And we work hard to deliver the financing solutions that give you the cash you need to build the life you want – like our home equity solutions. By using the equity in your home, you can get the cash you need to make life better in so many ways:
- Consolidate your debt
- Make improvements and repairs to your home
- Pay for education expenses, unexpected bills or medical bills
- Make a major purchase like a car or furniture
Whether you choose a home equity line of credit or a home equity loan, the interest you pay may be tax-deductible (consult your tax advisor).
Achieve any aspiration.
Home Equity Line of Credit (HELOC)
- Variable-rate line of credit
- Borrow up to 89.9% of the value in your home
- Flexibility to use whatever funds you need, when you need them
- Interest accrues on balance advanced; payment is 1% of the balance owed
What you should know about Home Equity Lines of Credit
Home Equity Loans (Fixed-rate Second Mortgage)
- Competitive fixed rates
- 15-year and 30-due-in-7 options
- 30-due-in-7 fixed rate option (amortized over 30 years with a balloon payment due in 7 years)
- Amortized payment schedule
The APR for a Home Equity Line of Credit is variable and based on Prime Rate as published in the Wall Street Journal, plus a margin. The maximum APR is 12.00%. You can obtain credit advances for 120 months (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment for variable rate balances will be established at the close of each billing cycle at an amount equal to the greater of 1.00% of Your then unpaid balance or all accrued but unpaid Finance Charges incurred during the billing cycle, subject to the lesser of $50.00 or your variable rate balance. Typical loan application and closing fees can range from $231.25 to $1,088.25. The Annual Percentage Rate (APR) for a Fixed Rate second mortgage is based on credit score. An APR of 10.25% will result in 180 monthly payments of $10.90 for every $1,000 borrowed.
View our Home Equity Line of Credit rates, fees and other cost information here.
We offer a variety of mortgage options to meet your needs, whether this is the first home you’ve ever bought or you’re interested in refinancing a mortgage you already have.
Get Purchasing Power
Experience life the way you want to, with the purchasing power that helps you accomplish more. You’ll find it with our rewarding Visa® credit cards.