Over time, you will build equity in your home as your mortgage is paid down and the value of the property increases. With both HELOCs and HELOANs, you can borrow against that equity and have cash available for home improvements, debt consolidation, unexpected expenses, or even that vacation you have been putting off for years. Both HELOCs and HELOANs can use your first-home, second-home, or investment property as collateral.

Rates

Key Features

  • Low Closing Costs
  • No Annual Fees
  • Competitive Rates
  • Quick Processing

A HELOC allows you to cash in on the equity you have earned on your home’s value. Payments and interest are calculated on the balance of your line that you use, not your total credit line – think credit card but with an exceptionally low rate of interest. Instead of receiving a lump sum loan, members instead receive a line of credit they can manage online and draw on using specially issued HELOC checks. Interest due is calculated based on the outstanding balance (the money used) not the entire line of credit amount. A great solution for debt consolidation, home improvement projects or unplanned expenses. We have several HELOC products to suit your needs. 

Product Details

  • 10-year draw period with interest-only payments required
  • 10-year repayment period at the end of the draw period if you still carry a balance
  • Deferred and waived closing costs on some HELOC types
  • Rates adjust monthly over the term of the loan based on the Prime Rate
  • Online payments & account management

As an alternative to a HELOC, a HELOAN offers fixed monthly payments with a fixed interest rate over a loan term of up to 10 years. HELOANs come with low closing costs, no annual Fees and quick loan processing. Funds are disbursed as soon as your loan closes. Great solution for debt consolidation, home improvement projects or unplanned expenses

Product Details

  • Terms up to 10 years.
  • Rates are fixed for the duration of the HELOAN
  • Quick loan processing with low closing costs
  • Online payments & account management