Home Equity Line of Credit
If you need to finance home repairs or renovations, college expenses, unexpected expenses, or plan your dream vacation, using the equity in your home could be an alternative to using other higher-interest rate financing options. Home equity lines of credit are a great way to pay for expenses as they arise.
Home Equity Lines of Credit Uses:
- Home repairs
- Home remodeling and renovation
- College expenses
- Unexpected expenses
- Purchasing a car or boat
- Dream vacation
- Consolidating debt
- Other personal uses
Why a Home Equity Line?
- Flexible: borrow when you want for what you want
- Inexpensive: offers some of the lowest interest rates available
- Easy: write a check to draw down on the line
- Smart: the interest you pay on this loan may be tax deductible; consult your tax advisor
How does Home Equity Line work?
- Uses the equity in your home to secure a line of credit
- Borrow as you need
- Monthly-interest-only payments on amount borrowed
- Repay principal on your schedule
- Principal due at maturity of loan
Disclaimers
New loans are subject to credit qualification, income verification, and collateral evaluation. Additional restrictions, limitations and exclusions, may apply. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Consult your tax advisor regarding the deductibility of interest.
