Home Equity Lines of Credit (HELOCs)

The loan that works like a checkbook

Did you know your home can be a source of collateral when you need cash? And because we’re local, our home equity lines of credit (HELOCs) are flexible and accessible. We’ll sit down and talk through your best-fit option — and take you from application to closing.

You can use a HELOC to:

  • Consolidate high-interest credit cards and loans
  • Remodel or improve your home (loan for home improvement)
  • Fund a college education
  • Pay for a wedding
  • Go on that dream vacation
  • Help you plan for the unexpected
  • And so much more!

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HELOC vs. home equity loan

Our lenders have decades of experience in both HELOCs and home equity loans. Here are the differences between the two:

Comparison table of HELOC and Home Equity Loan Features
  Home Equity Line of Credit Home Equity Loan
No annual fee Yes Yes
Usually lower fees than traditional mortgages Yes Yes
Interest rate moves with Wall Street Journal prime rate when it is due to adjust Yes Yes
Interest rate has a fixed period and then adjusts every year   Yes
Interest-only payment Yes  
Principle payment or reduction in every payment   Yes
Withdraw funds as needed, and once you pay it back, it becomes available again Yes  
Lump-sum disbursement (i.e., you get all the cash right away)   Yes
Interest is tax-deducible* Yes Yes
Use home collateral Yes Yes
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