If you have ongoing needs that are better served with revolving credit — but don’t want to resort to your personal credit card — a home equity line of credit (HELOC) may be the solution. Unlike lump sum financing, a HELOC offers an open source of financing that replenishes for future borrowing as you pay down your balance.
- Competitive interest rates for a wide range of ongoing expenses:
- Home improvements
- Medical expenses
- Renovation projects
- And much more
- Direct, anytime access to funds without reapplying
- Revolving credit — when you repay, your limit is replenished for future borrowing
- Affordable payment plans
- Only pay interest on the part that’s used
- The interest paid may be tax deductible*
- Prompt, local decision-making and processing
- Detailed, attentive service from start to finish
*Consult a tax adviser.