Home Equity Line of Credit

Did you know that you can use the equity built up in your home, in order to make it work for you?  Our Home Equity Line of Credit (HELOC) product allows you to make interest-only payments for the first ten years of the loan, which allows for the flexibility to access cash while simultaneously reducing your monthly payments.

During the first ten years after refinancing, you only have to pay the interest due on your outstanding balance, followed by principal and interest payments for the following five years. The interest rate in this type of mortgage is variable, and may change over the course of the loan’s life. Utilizing the interest-only home equity line of credit may help you achieve the following:

* Reducing your tax liability (consult a tax advisor before applying).
* Reducing your interest payments on other high-interest debt that you have.
* Pay for tuition for college.
* Consolidate your debt into one payment monthly.
* Purchase a new car.
* Purchase the materials required for home improvement, or hire a contractor.
* Take the vacation you have been dreaming about.