A home equity line of credit works sort of like a credit card limit. You borrow only what you need, up to your preset limit, and pay principal and interest on what you borrow. Closing cost of $349*.

Benefits:

• Easy access to funds for large expenses now and in the future
• Low rates (as low as Prime -1%**)
• Make payments on only your outstanding balance
• Can borrow up to 90% of your home’s equity*
• No draw fees
• Loan terms up to 15 years with a 10-year draw period
• Payments recalculate monthly

Fixed Rate Home Equity Loan

A fixed rate home equity loan offers a single lump sum that can help you pay for a home improvement project. Closing cost of $349*.

Benefits:

• Borrow a specific amount with a fixed rate, term and monthly payment
• Loan terms up to 15 years
• Fixed payment
• No prepayment penalty