Home Equity Lines of Credit

Features:

• Monthly adjustable or annually adjustable rate - you choose
• Rates are indexed to Prime plus a margin
• Borrow up to 90% of your home's value up to $175,000
  • Market Value x 90% - all current outstanding liens = Equity Available (see example below)
    $200,000 (Market Value)  x 90%*= $180,000 – $150,000
    (Current 1^st Mortgage) = $30,000 Available Equity
    *Please note that the Combined LTV (1^st mortgage and our 2^nd  mortgage) cannot exceed 90% of the Market Value of the home.
• Various terms available
• Withdraw money as you need it and only pay interest on that amount
• Funds can be accessed via e-Branch online banking system or with your HELOC access checks

Benefits:

• Only pay interest on the outstanding amount owed
• May qualify you for a tax deduction; consult with a tax professional to find out more
• Apply online 24/7 and receive your answer immediately

Apply Today!

If you'd like to open a Home Equity Line of Credit, fill out our easy online application. We also offer a printable application if you'd prefer this method. Documentation - Please send us copies of (a) a recent pay stub, W2, or income tax return; (b) your deed; (c) your mortgage statement; (d) a real estate bill with assessment; and (e) if you're refinancing, a current equity statement.