A HELOC is a revolving line of credit, offering the flexibility of access to funds when you need them at a low rate.
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Up to 75% tax assessed or 85% appraised LTV (loan-to-value) is available.
Loan amounts from $10,000 to $ 250,000.
Line of credit stays open for 10 years (draw period), with an additional 15 years to pay off the balance (repayment period).
Payment during draw period is 1% of the outstanding balance, with $100 minimum payment.
No annual fee.
No application fee.
Low variable rate: prime + 0, with a minimum rate of 4.25% and maximum of 12.50%.
Rate is subject to change quarterly.
No minimum withdrawal or advance amounts, up to the maximum amount.
Accessible through Online Banking and Telephone Banking as well as in the branches.
Low variable rate based on prime plus 0.00%, with a minimum rate of 4.25% and maximum of 12.50%. Rate is subject to change quarterly.Property insurance is required.