Home Equity Line of Credit

A Home Equity Line of Credit is a revolving loan which allows a borrower to finance up to 80% of the equity in their home.

Purpose: For Cash or Debt Consolidation
Payment Type: Monthly; 1% of Outstanding Balance
Loan-To-Value: Up to 80% of the equity in your home, less any existing mortgages.
Prepayment Penalty: None
Type of Property: Single Family or Condo
Type of Residence: Primary
Type of Lien: First or Second Mortgage
Draw Features: 20-Year Term with a 10-Year Draw Availability
Access: Check, Over the Counter, Direct Touch