Home Equity Loan vs. Home Equity Line of Credit
Choose a Home Equity Loan for home repairs and much more. This option gives you a lump sum to use, which is paid back in installments over a certain amount of time.
Choose a HELOC as a flexible source to finance home repairs and upgrades. A line of credit allows you the ability to draw money whenever you need for a period of time. You only pay interest on the amount you borrow.
The Versatility of a HELOC
Go ahead, renovate that kitchen. Add a second bathroom. Turn your extra garage space into a home office. Whatever you’re looking to do, one of the best ways to put money into your home is to use the money you get out of it. With a Home Equity Line of Credit, you can borrow against your home’s value to fund any number of improvement projects — and at a low interest rate.
Looking to lock in the current regular rate for your HELOC? Ask our Member Service Center for more information.
Benefits of a HELOC
- No closing costs1
- Lower rates and payments
- No annual fees
Four Ways to Access Your HELOC Loan:
- Online Banking transfer
- Automated Account Access transfer
- Write a check
- In person at any of our convenient branch locations
|Locked for 12 months
Rates listed above are for up to a 70% LTV. We also offer additional introductory terms with higher LTVs. For rates and more information on this product please contact us.
Home Equity Loan
Borrow a set amount of money to be paid back in equal payments for up to 20 years. Popular terms are 3, 5, 10 or 20 years. Choose the term that best fits your needs.
Benefits of a Home Equity Loan:
- No closing costs
- Low fixed rates and payments
- No annual fees
Consider a Home Equity Loan to:
- Pay for home improvements
- Consolidate high-interest debt
- Pay off medical expenses
- Pay education expenses
Home Equity Loan Rates3
|Up to 60 months
Rates listed above are for up to a 80% LTV. We also offer a separate 90%-100% LTV home equity loan. For rates and more information on this product please contact us.