Consider using the equity in your home for debt consolidation, education expenses, or home improvement projects. Whatever your borrowing needs, your home's equity can help you turn your wants into haves.
A HELOC is a line of credit secured by your home. With a line of credit, you get the flexibility to use how much you need, when you need it. And, as you pay down the balance of your HELOC, you can reuse the available funds in the future.
Our application process is streamlined and easy. Plus, you get a decision fast, so you’ll have quicker access to your funds.
Working on a bigger project? Want to consolidate debt and save money? The Standard HELOC is a great option for you. With all of the benefits of our EZ HELOC and a larger credit limit, there’s nothing standard about this HELOC.
A unique option that allows you to convert any portion of your outstanding HELOC balance to a fixed rate. Use this option to pay down your balance quicker or establish a fixed payment amount.
Choose a home equity loan if you are consolidating debt or making a major purchase. Whatever your financing need, you have peace of mind in knowing your interest rate and monthly payments will be fixed for the life of the loan.
1. The Annual Percentage Rate (APR) for any portion of the HELOC not in a Fixed Rate Option is variable and may increase. The variable APR will change with the market based on the Prime Rate as published in the Wall Street Journal. As of January 1, 2016, the variable rate for owner-occupied HELOCs ranged from a low of 4.50% APR to a high of 18.00% APR, with no discounts. Initial rates are determined based upon the specific characteristics of the transaction including but not limited to applicant’s credit, LTV, and amount requested. Origination fee of $325. A full appraisal may be required in some instances and will result in an additional appraisal fee. All purchase requests and all loan requests in excess of $250,000 will require a full appraisal. Maximum combined LTV is 89% of the lesser of the appraised value or the purchase price, and including any prior mortgages or liens. Minimum monthly payment of 1.50% of the outstanding balance. Entire remaining balance due must be paid at maturity in single “balloon payment.” Property insurance is required.
2. $50.00 fee applies for each Fixed Rate Option (FRO). The FRO allows the customer to lock in the rate at 1.00% over their current HELOC rate and to amortize the advanced amount over a period of 12 to 60 months. Minimum FRO amount of $1,000. Any amounts advanced and not included in a FRO will continue under the original terms of the HELOC. Refer to the “Standard HELOC” section above.
3. Consult your tax advisor.