HOME EQUITY LINES OF CREDIT
Be prepared for whatever lies on the road ahead by getting pre-approved for a line of credit based on your home's value.You can access the funds easily to use however you see fit—spend it all at once on a large expense or a little at a time over years. A home equity line of credit provides you with financing and flexibility to handle anything.
- Summary
- Use it for anything
- Loan secured by primary residence
- Access funds easily
- Borrow up to 75% of appraised value
- Interest charged only on the principal amount used
- Pay it back and use it again
- Rate based on Wall Street Journal Prime Rate
- Low monthly payments*
- Draw period and repayment limited to 10 years maximum
- Guaranteed annual percentage rate (APR) between 4% and 18%
- No annual fee first year ($50 annual fee waived with direct debit from a Consumers checking account)
*Monthly payment is 1% of outstanding balance plus accrued interest.
