Competitive Rates & Flexible Access to Your Equity

A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home’s equity. Similar to a credit card, you can borrow what you need, when you need it, up to your approved credit limit. You only pay interest on the amount you actually use, giving you flexibility and control over your borrowing.

HELOCs typically have two phases: a draw period (usually 10 years) when you can access funds and make interest-only payments, followed by a repayment period (usually 20 years) when the line closes and you repay both principal and interest.

We’re here to make the HELOC process easier, with tools and expertise to guide you along the way, starting with our no-cost HELOC Qualifier.

Key Benefits:

• Borrow only what you need, when you need it
• Revolving credit that replenishes as you pay down your balance
• Interest-only payment options during draw period
• Potential tax benefits when used for home improvements (consult your tax advisor)

Learn About HELOC Options

The HELOC Process

Here’s how our HELOC process works:

1- Apply and get approved for a credit limit based on your available equity

2- Access funds during the draw period using checks, cards, or transfers

3- Make monthly payments on the amount you’ve borrowed

4- During repayment period, pay both principal and interest to retire the balance

Common Questions About HELOCs

What’s the difference between a HELOC and a home equity loan?

A HELOC is a revolving line of credit where you borrow what you need when you need it, typically with a variable rate. A home equity loan provides a lump sum at closing with a fixed rate and fixed monthly payments. HELOCs offer more flexibility while home equity loans provide payment predictability.

What can I use HELOC funds for?

You can use HELOC funds for nearly any purpose: home improvements, debt consolidation, education expenses, emergency reserves, investment opportunities, or major purchases. Many homeowners use HELOCs for ongoing projects or expenses where the exact amount needed isn’t known upfront.

Are HELOC interest rates fixed or variable?

Most HELOCs have variable interest rates that adjust based on market conditions. The rate is typically tied to the Prime Rate plus a margin. Some lenders may offer the option to convert portions of your balance to a fixed rate for more predictability.

What happens during the draw period vs. repayment period?

During the draw period (typically 10 years), you can access funds up to your credit limit and may make interest-only payments. During the repayment period (typically 20 years), the line closes to new draws and you repay both principal and interest until the balance is paid off.

Can I pay off my HELOC early?

Yes. Most HELOCs allow you to pay down or pay off your balance at any time without prepayment penalties. Paying down your balance during the draw period makes that credit available again for future use.

Is HELOC interest tax-deductible?

HELOC interest may be tax-deductible if the funds are used to buy, build, or substantially improve your home. Tax treatment varies based on how you use the funds. Consult a tax professional for guidance on your specific situation.

Your HELOC Could Be Fully Funded 30 Days From Now

Revolving Credit Line

Borrow, repay, and borrow again during your draw period

Interest-Only Options

Lower initial payments during the draw period

Flexible Draw Period

Access funds when you need them for up to 10 years

Competitive Variable Rates

Rates that adjust based on market conditions

Multiple Access Methods

Use checks, debit cards, or online transfers to access funds

No Usage Restrictions

Use funds for any purpose without lender approval

Flexible Home Equity at Your Fingertips!

All loans subject to credit approval. Rates, program terms, and conditions are subject to change without notice. Variable rate products have rates that adjust periodically based on market conditions. Not all products are available in all states or for all loan amounts. Property appraisal required. Loan-to-value limits apply. Consult a tax advisor regarding the deductibility of interest. Other restrictions and limitations may apply. This is not a commitment to lend.

To qualify for a HELOC, most lenders evaluate your home equity (typically you’ll need at least 15-20% equity remaining after the credit line is established), credit score (generally 620 or higher), debt-to-income ratio, stable income verification, current property value, and occupancy status. Most HELOC programs allow you to borrow up to 85% of your home’s value minus your existing mortgage balance, subject to credit approval.

Not sure if you qualify? Our loan officers can review your home equity position and financial profile to help you understand how much credit you may be able to access and which HELOC options may be available to you.