Home Equity Lines & Loans

Borrowing from the equity in your home is a great way to pay off high-interest debt, make home improvements, pay tuition, or provide a source of funds for unforeseen or emergency expenses.

Featuring low interest rates, little or no closing costs, and potential tax advantages, a Home Equity Line of Credit or a Home Equity Loan are both great options for homeowners. Which option works best for you?

*Annual Percentage Rate (APR) is blended between 7.50% and 8.50%. The interest rate on an average daily balance of less than $25,000 for the monthly statement period will be Prime Rate as published in the Wall Street Journal, currently 8.50% as of 5/3/2024 and the interest rate on the average daily balance of $25,000 or more for the monthly statement period will be Prime Rate -1.00%, currently 7.50% as of 5/3/2024. The maximum APR is 18%. The minimum interest rate is 3.75% with an APR of 3.75%. Rates are for owner-occupied properties only. Maximum loan-to-value (LTV) is 80%. Processing fee of $150 will apply if line of credit is approved and closed. Borrower-paid appraisal required for loans equal to or greater than $400,000 or for loans less than $400,000 where the bank is unable to determine a value using the standard method. Other closing costs may vary based on the HELOC amount requested. Property insurance is required.

Home Equity Borrowing Options

Accessed as needed, a Home Equity Line of Credit provides a 10-year window to draw funds for use as needed, followed by a 15-year repayment period. During the 10-year draw period, borrowers are required to make interest only payments, which is helpful for cash flow and budgeting.

  • Flexibility to access line as needed
  • Interest-only payments
  • Potential tax advantages*

View Current HELOC Rates & Apply >
Contact Our Residential Lending Team >

*Consult a tax advisor to determine your situation

A Home Equity Loan is a fixed rate, fixed-term installment loan. Regular principal and interest payments are required each month. Home Equity Loans are a great way to refinance a higher interest first mortgage given the low rates and little or no closing costs.

  • Fixed rate and fixed monthly payments ideal for budgeting
  • Great option for refinancing a first mortgage
  • Potential tax advantages*

View Current Home Equity Loan Rates & Apply >
Contact Our Residential Lending Team >

*Consult a tax advisor to determine your situation