Put Your Home’s Equity to Work
Your home may be one of your largest financial assets. A HELOC allows you to borrow against your home’s equity, or the difference between what the home is valued at and what you owe. HELOCs can be used for a variety of personal expenses, such as home improvements, debt consolidation or other significant expenses. Because a HELOC is a line of credit, funds are revolving, meaning you can borrow when you need, on an ongoing basis, much like a credit card.
- Borrow for what matters most: Use funds for home renovations, education expenses, debt consolidation, major purchases or other financial priorities.
- Access funds when you need them: Draw from your available credit line as needs arise rather than borrowing a lump sum all at one time.
- Borrow, repay and borrow again: A revolving credit structure gives you ongoing access to available funds, up to your approved limit.
- Pay interest only on what you use: Keep borrowing costs tied to the amount you've actually accessed.
- Benefit from competitive rates: Because a HELOC is secured by your home's equity, interest rates are often lower than other borrowing options.
- No annual fee: Keep borrowing costs down while maintaining access to available credit.
- Manage your line conveniently: Online account access makes it easy to monitor balances and access funds.
