Home Equity Loan Let the equity you have in your home work for you. Borrow what you need for a term that suits you at a fixed rate of interest. You pay it off through a fixed schedule of monthly payments. Ask your banker how you can avoid paying any closing costs.
Home Equity Line If you need more spending power, combine one of the most competitive interest rates around with the tax incentives1 of a mortgage by taking out a line of credit against the equity in your home. This flexible, revolving credit line lets you write a check anytime you want, as often as you want – as long as it’s within your available credit line limit. And we’re flexible! Take a few months or up to 25 years to pay off whatever you borrow. Ask your banker how you can avoid paying any closing costs.
1All or part of the interest paid on a Home Equity Loan or Line of Credit may be tax deductible under the Tax Reform Act. Consult your tax advisor concerning your personal tax situation.