Introductory 1.99% APR
For a limited time, enjoy a promotional introductory 1.99% APR for the first 6-months and a variable rate thereafter, currently 8.50% APR*. With a minimum $5,000 draw, use your home’s equity as you need it to finance a remodeling project, fund a dream vacation, purchase a boat or vehicle, cover wedding costs, or even consolidate debt.
A HELOC offers:
- Combined borrowing up to 90% of your home’s value.
- Competitive interest rates.
- Quick, local decisions.
- Online access to rates and applications.
*Promotional introductory annual percentage rate (APR) of 1.99% is fixed for the first 6 months from time of closing; and is valid for new home equity lines of credit (HELOC) applications. After the introductory fixed rate period of 6 months, the rate is variable and is 8.5% as of 9/18/23. The variable rate is tied to the Wall Street Journal Prime Rate. Maximum APR is 18%. For this promotion, the minimum initial draw is $5,000 and is only available for new money. This new loan is subject to a new application and mortgage underwriting and credit approval. No annual fees. Property insurance is required.
Home Equity Line of Credit FAQs
What is a home equity line of credit, or HELOC?
A home equity line of credit, sometimes referred to as a HELOC, is a mortgage that gives you access to money based on your home’s value. It is a revolving line of credit, and gives you access to funds when you need them.
How do HELOC payments work?
You can draw from a HELOC and repay all of it at once or make payments and pay down the balance over time. Interest will be applied to balances that aren’t paid in full each month.
What can a HELOC be used for?
You can use the funds from your HELOC however you would like.
Are there closing costs for a HELOC?
Can you use a HELOC to buy another house?
Does a HELOC affect my credit score?
How long does it take to be approved for a HELOC?
Is it hard to get approved for a HELOC?
Can you pay HELOC off early?
How much can you borrow with a HELOC?
What are the disadvantages of a Home Equity Line of Credit?
How much equity do you need for a HELOC?
What happens to your HELOC when you sell your house?
When you sell your home, it is required that your HELOC is paid off and closed.