Home Equity Line of Credit
Enjoy the flexibility of being able to conveniently access funds as needed by simply writing a check. Pay down your line whenever you want, and reuse those funds again and again. This option is a smart and helpful solution for many of our borrowers.
Our easy payment solutions include an “interest-only” option during the draw period of the first 15 years, with the option to pay down your principal at anytime. Your payment is based upon the portion of the line you use. After your 15-year draw period is over, the line converts to a 15-year repayment period, which you will pay monthly principal and interest in fully amortized payments.
We have a variable-rate home-equity line of credit, based on the Wall Street Journal Prime Rate for up to 30 years. There are no closing costs to the borrower on lines between $7,500 and $250,000.