Home Equity Line of Credit

  • Need to do some repairs?
  • Pay for college?
  • Take a vacation?
  • Need to cover an unexpected expense?


You can use the equity in your home to pay for what you need. The equity in your home is the difference between the value of your property and the amount you owe your mortgage lender. A Home Equity Line of Credit (HELOC) allows you to borrow against your home’s equity to make discretionary purchases or pay of high interest debt. HELOCs are convenient for funding intermittent needs, such as paying off credit cards, making home improvements, or paying college tuition. You draw and pay interest on only what you need. Having a HELOC provides several advantages.

  1. No fees when using your HELOC
  2. Low interest rate
  3. Caps on rate increases
  4. Pay it off when you like.


Home Equity Line of Credit Rates

Effective 8/01/2023

TermRateAnnual Percentage RateMonthly Payment
RevolvingPrime minus 0.25%8.250%1.50% of the outstanding balance, or $100.00, whichever is greater.

Our Home Equity Line of Credit is a variable rate of Prime Minus .25% for the life of the loan.  The rate is adjusted monthly based on Prime as shown in the Wall Street Journal. The prime rate is 8.25% APR* as of 7/26/2023. Hazard Insurance is required. Flood insurance is required where necessary. No minimum initial advance is required. We will lend up to 85% of the appraised value of your home, minus first mortgage. $5,000 minimum for line of credit. Maximum Annual Percentage Rate is 18.00%.