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Home Equity Line of Credit

Not sure how much you’ll need or prefer to have a low-cost credit available to you when you have a project?  A home equity line of credit is the option for you.

  • Credit limits up to 80% of the appraised value (less mortgage & liens), with a minimum of $5,000 and maximum of $300,000
  • Initial (first) minimum advance is $5,000 and subsequent minimum amount of $250
  • Minimum monthly payment is $70 or 1.4% of the outstanding balance
  • Draw period of 10 years and repayment terms up to 10 years
  • Access your funds by check or an advance in person or by phone at any LOC office
  • Lump sum payments can be made at any time with no pre-payment penalties
  • Variable rate equals the Prime Rate, minimum 4.5% with a maximum of 12%, subject to change quarterly
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