Home Equity Line of Credit
A home equity line of credit is a great way to finance recurring expenses like college tuition or for special expenses like weddings and vacations. Of course, it's also helpful for life's unexpected expenses too! HELOC benefits include:
- Low variable rate based on Prime (quoted daily);
- Borrow up to 80% of your home's equity;
- Interest is only charged on the portion you use;
- Funds readily accessible when you need them — just write a HELOC check;
- No closing costs or prepayment penalties; and
- Interest may be tax deductible**
* With approved credit. Some restrictions may apply.
** for tax deductibility, contact your tax advisor.
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