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    • Home Equity
    • Home Equity

      Take advantage of the equity in your home to complete a special project, home renovations, your college education; consolidate debt; make a major purchase, and much more!

      Depending on your need, we have two options available to you – a Home Equity Line of Credit (HELOC) or a Home Equity Loan. It’s important that you understand how both options work before deciding which is best for you.

      A home equity line of credit (HELOC) is an open line, available for you to use at any time, present or future. The many benefits of a HELOC include:

      • You have the option to receive cash up front, with the flexibility to use your line of credit at any time for any expense
      • Flexible payment options
      • Interest paid may be tax deductible*
      • The interest rate is lower than credit cards

      A home equity loan, also known as a closed-end second mortgage, is a solution to get cash for a one-time specific need and specific loan amount, e.g., remodeling your kitchen and paying off the loan in a five-year period. The many benefits of a home equity loan include:

      • Can provide cash for a one-time need
      • Fixed monthly payments
      • Interest paid may be tax deductible*
      • The interest rate is lower than credit cards