Whether you want to finance a home improvement project, consolidate credit card debt, or take that well-deserved vacation.
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. An excellent solution for debt consolidation, home improvement projects, or unplanned expenses. We have several HELOC products to suit your needs.
Product Details
- 15-year draw period with interest-only payments required
- 15-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 20 years. HELOAN has low closing costs, no annual fees, and quick loan processing. Funds are disbursed as soon as your loan closes. An excellent solution for debt consolidation, home improvement projects, or unplanned expenses.
Product Details
- Terms up to 20 years.
- Rates are fixed for the duration of the HELOAN
- Quick loan processing with low closing costs
- Online payments & account management