Borrow, repay, repeat! All with the power of home equity. HELOCs are designed for repeat borrowing using home equity as collateral, providing flexible and ongoing access to replenishable funds throughout the 5-year draw period.
How Does It Work?
Simply repay what you’ve used to borrow again and again, perfect for long-term goals and harder-to-pinpoint expenses. No more borrowing too much or too little! Access the amount that’s just right for you. And guess what? You only pay interest on what you borrow.
More Credit, More Options
With a HELOC, your loan isn’t limited to one use! Cover practically any cost, whether you need a large sum ASAP or are chipping away at a more extended project.
Popular uses for HELOCs include:
Debt Consolidation
Home Improvements
Emergency Expenses
Starting A Business
Healthcare Costs
HELOC Benefits:
- Draw money when you need it
- Only pay interest on what you borrow
- Flexible repayment terms (weekly, bi-weekly, etc.)
- 5-year draw period and 10-year repayment period
- No early repayment penalties or fees
- Adjustable interest rate
- Interest may be tax-deductible
