Home Equity Line of Credit (HELOC): For Flexible Spending Needs

• Multiple advances during the first five years
• Repaid over 15 years at the end of the 5-year advance period
• Variable rate, indexed to prime, with a floor of 3.5% and a cap of 18%.*
• Maximum LTV: 70% (including any existing liens)
• Easy Online Application!

*The rate resets every six months, and can increase no more than 1% at each reset date

Some good reading on home loans from our friends at the Federal Reserve: 

• Consumer’s Guide to Mortgage Refinancing
• A Consumer’s Guide to Mortgage Settlement Costs
• Putting Your Home on the Loan Line is Risk Business

Home equity loans are available for primary residences, second homes, and investment properties.  The second home loans and investment properties are subject to a 1.00% increase in the interest rates in the above table and may be subject to other restrictions.