Home Equity Lines of Credit

  • Revolving line of credit secured by equity in primary residence
  • 10 year term
  • Monthly principal and interest payments
  • Funds can be used for any purpose from home improvement to college expenses
  • Interest rates are tied to the prime rate and can change monthly
  • Competitive rates and annual fee
  • No closing costs
  • Interest is normally tax-deductible
  • Easy access to funds
  • Loan limits are based on equity in your home and credit qualification
  • You pay interest only on what is used
  • Appropriate for many different borrowers who wish to have a loan which is tax deductible and revolving for repeat use