Take advantage of this introductory HELOC Rate!
or schedule an appointment with your local financial center.
or Contact a Loan Specialst (1.800.385.8664)
Have big plans you are ready to launch? Our home equity line of credit can fuel it. Ideas like remodeling your kitchen, making a down payment on a new vehicle, consolidating high-interest debt, or paying for tuition. You dream it and OptionLine can help you get it done. Let's make it happen!
2.49%2
Special introductory
APR for 6 months
3.50%3
Variable APR after the
introductory period
Take advantage of this introductory HELOC Rate!
or schedule an appointment with
your local financial center.
Have big plans you are ready to launch? Our home equity line of credit can fuel it. Ideas like remodeling your kitchen, making a down payment on a new vehicle, consolidating high-interest debt, or paying for tuition. You dream it and OptionLine can help you get it done. Let's make it happen!
2.49%2
Special Introductory
APR for 6 months
3.50%3
Variable APR after the
introductory period
Benefits of our Home Equity Line of Credit
ANYTIME ACCESS TO YOUR MONEY >>
FLEXIBLE PAYMENT OPTIONS >>
NO APPLICATION FEES >>
OPTIONAL RATE LOCK >>
Benefits of a
Home Equity Line of Credit
ANYTIME ACCESS›
FLEXIBLE PAYMENT OPTIONS›
Choose how you want to pay including interest-only payments.
NO APPLICATION FEES›
OPTIONAL RATE LOCK ›
HELOC (home equity line of credit) is a loan that’s secured by your home. It’s like a credit card but is generally used for larger expenses vs. everyday purchases. You are approved for a certain amount to borrow (credit limit), and you can use as you need it. You can choose to pay interest only on the money you withdraw or pay more.
Plus, while a HELOC has a variable rate (the rate can move up or down depending on the market), you have the option to lock in a fixed rate for certain amounts, so you have more control over how much you pay.
How much could you get?
To qualify for a HELOC, you need to have available equity in your home, meaning that the amount you owe on your home must be less than your home value. Here’s how our lendable home equity is determined. An example based on 80% finances:
Appraised value of home $200,000
80% of appraisal x0.80
---------------
$160,000
Less first mortgage -$125,000
---------------
Home equity loans typically have a fixed interest rate, meaning the payment is the same each month; that makes them easier to factor into your budget.
You've worked hard to buy your own home. Use this seasonal maintenance checklist to keep your home in the best condition inside and out. »