Home Equity Line of Credit
A home equity line of credit lets you borrow against a given credit line, that is tied to your checking account, as you need it. The equity in your home can be the greatest way for you to get the money you need for just about anything: a new car, debt consolidation, college expenses, a dream vacation or home improvements.
A home equity line of credit generally offers an adjustable rate with a minimum monthly payment based on the outstanding balance. Our experienced lenders help you make wise financial decisions in utilizing your home equity line of credit.
- Benefits
- Use your credit again and again, up to the limit
- Local decision-making
- Competitive rates
- Receive access to funds easily and quickly
- Payments are structured to fit your lifestyle
- Making payments is easy through 1st Online Internet banking
Home Equity Line of Credit as low as Prime Rate minus 1% APR
The annual percentage rate (APR) will vary with Prime. "Prime" means the prime rate as published in the Wall Street Journal. The variable rate for lines of credit is Prime minus 1.00% to Prime plus 3.00% (index plus margin). The margin is determined by your home's loan-to-value ratio and your creditworthiness. Consult a tax adviser about interest deductibility.
