Loan Programs & Services : HELOCs

If you need cash to renovate part of your home, to consolidate debt, or for another immediate need, consider a Home Equity Line of Credit, also known as a HELOC. A HELOC is an either fixed- or variable-rate mortgage tied to your home, and interest is deductible.

A HELOC can also serve as a first or second mortgage or be used for a down payment on another house you’re buying. Closing costs on HELOCs are less than $100, a fantastic savings when compared to the typical $2,000 closing costs of conventional mortgages. Furthermore, this loan can help you avoid the expense of federally required Private Mortgage Insurance (PMI). By avoiding PMI, you could save up to $1,500 per year.

Ask us how we can make this versatile loan work for your situation.