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 $10,000 and maximum of $300,000
- 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
- Add a $350 Early Closure Fee if Home Equity Loan (either Line of Credit or Closed-End) is closed within 24 months of opening.