Home Equity Loans & Lines of Credit1
Home Equity Line of Credit (HELOC)
Whether you’re planning for recurring expenses—like a contractor’s bills or tuition payments—or keeping credit available for unexpected expenses, a HELOC1 lets you borrow against the equity in your home and use it when you need it.
- Use your line of credit as often as you like for any amount up to your credit limit
- Pay interest—which may be tax deductible2—on only the actual amount you’ve used (not your total HELOC limit)
- Simply transfer funds from your HELOC to another account—or write a HELOC check or use your Visa® Platinum Home Equity debit card
Home Equity Loans
If a big, one-time expense—like a new car, a wedding or debt consolidation—has you worried, a home equity loan1 can provide a lump sum to get you over the hump. With a loan backed by the equity in your home, you can quickly and easily meet your obligations while enjoying the security of a fixed interest rate. Then, you’ll keep things simple by paying back your loan in monthly installments.