Home Equity Lines of Credit and Loans

Here are the advantages of a Home Equity Line of Credit:

• A revolving line of credit is approved for a maximum amount and can be accessed repeatedly — Funds are available whenever you need them without going through the loan approval process over and over.
• Funds are accessed by check. — Easy access to cash when needed. You don't need to contact the bank each time you want to make a draw against the loan. Use Online Banking to deposit funds into your checking or savings account and make loan payments.
• You can also opt to link your credit line to your checking account — Serves as overdraft protection affording peace of mind at times when it maybe needed.
• Preferred rates for large equity positions and good credit histories.
• Interest assessed on the outstanding balance — Interest is charged only on the actual amount advanced. 
• Variable rates as well as fixed Rates for various time periods are available. Balloon payment will often result. Offer of credit is subject to credit approval.
• Interest paid may be tax deductible (check with your tax advisor)
• Once established, your home equity line of credit is there when you need it to use over and over again — You can improve your home, consolidate personal obligations and make major purchases like a new car, pay tuition or fund important investments.

If you need it, want it, desire it, or dream it, we want to help you get it!!