Home Equity Lines of Credit (HELOCs)
A Home Equity Line of Credit is a revolving loan that uses your home as collateral. HELOCs allow for greater flexibility than a term home equity loan because they don't require you to draw on all of the available funds at one time, but rather, as needed. Choose the one that's right for you.
Fixed-Rate Home Equity Line of Credit
(Interest-Only)
- Fixed-rate loan
- 15-year term
- Initial draw minimum of $10,000
- Draw money as you wish and repay up to available line amount for 5 years
- Interest-only payment for the first 5 years
- Quick closing in 30 days or less
Fixed-Rate Home Equity Line of Credit
(Principal + Interest Payment)
- Fixed-rate loan
- 10 or 15-year terms
- Initial draw minimum of $10,000 (15-year term) or $16,000 (10-year term)
- Draw money as you wish and repay up to available line amount for 5 years
- Quick closing in 30 days or less
Home Equity Line of Credit
(Interest-Only)
| Term | APR* (as low as) | Minimum Draw |
|---|---|---|
| 15 years | 6.00%** | $10,000 |
Home Equity Line of Credit
(Principal + Interest Payments)
| Term | APR* (as low as) | Minimum Draw |
|---|---|---|
| 10 years | 5.74% | $16,000 |
| 15 years | 6.24% | $10,000 |
