Home Equity Line of Credit or HELOC
Use the equity in your home to achieve your dreams.
- Use the HELOC to make improvements, pay tuition, consolidate bills or other purposes.
- Utilize up to 80% of the value of your home up to a maximum of $75,000.
Differences between a fixed rate home equity loan and HELOC
- Five year draw period with 15 years to pay back the line of credit.
- Variable interest rate.
- No closing costs if the line of credit is open for 3 years with a minimum balance of $5000.
- Introductory rate discount, some restrictions apply - talk to a Mortgage Lending Originator for details.
- Several ways to access your line of credit.
Call (716) 665-7000 for more information.