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.


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HOME EQUITY LINES OF CREDIT
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
  • 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.