Home Equity Line of Credit
Unlike a traditional Home Equity Loan that pays out one lump sum, when you choose a Line of Credit, you are approved up to a determined limit based on the equity in your home. When you need funds, to pay the contractor or to secure your dream vacation, with just a phone call, you may draw up to your approved limit without the need to reapply*.
- Get added funding flexibility
- Great for ongoing projects or expenses
- Use and repay on an ongoing basis
- Pay interest on only the amount of money in use
*A HELOC has a limited term. When term expires, you must reapply to renew revolving credit.