Home Equity Line of Credit
Interest Only Product
Get the extra cash you need for a variety of personal expenses, home improvements (including the addition of solar panels, charging stations, composting systems, HVAC systems that run on electricity or solar power), debt consolidation, etc.
Using this type of loan, you can borrow from the lendable equity in your home to pay for what you need.
Borrow from your available credit anytime!
Borrow up to 75% of your home’s value
Some restrictions apply
No prepayment penalty
Easy access to your funds
Home Equity Line of Credit
( Interest Only Product)
Get the extra cash you need for a variety of personal expenses, home improvements (including the addition of solar panels, charging stations, composting systems, HVAC systems that run on electricity or solar power), debt consolidation, etc.
Using this type of loan, you can borrow from the lendable equity in your home to pay for what you need.
- Borrow up to 75% of your owner-occupied home’s value (some restrictions apply)
- Monthly payments of interest only on the unpaid balance
- Option to pay toward principal anytime
- Borrow from your available credit throughout a 5-year draw period
- No prepayment penalty
- Easy access to funds as you need them using online or mobile banking
- Application to closing — approximately two weeks
- Interest may be tax-deductible – Consult your tax advisor
How much can I borrow? (HELOC – Interest Only Product)
| Combined 1st & 2nd Mortgages | Max Loan to Value |
|---|---|
| Up to $500,000 | 75% |
| $500,001 to $1,000,000 | 65% |
| $1,000,000 & Greater | 55% |
Example:
Appraised Value is $150,000 x 75% = $112,500
– Less the 1st Mortgage Balance of $65,000
Available Lendable Equity will be $47,500
Information is subject to change without notice
READY TO APPLY FOR YOUR LOAN?
Stephanie
Vice President, Consumer Lending
Brittney
Consumer Lending Loan Assistant
Questions about our loans?
Home Equity Line of Credit
We're here to keep you moving forward
Get the extra cash you need for a variety of personal expenses (i.e. home improvement, debt consolidation, etc). Using this type of loan, you can borrow from the lendable equity in your home to pay for what you need.
