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Home Equity Line of Credit (HELOC)
A HELOC gives you a revolving line of credit based on your home’s equity. Use it as needed, pay it down, and use it again.
WHAT IS A HELOC?
A HELOC is a revolving credit line secured by your home. Instead of receiving a lump sum, you draw funds as needed during the draw period.
You only pay interest on what you use, making it a flexible option for ongoing or unpredictable expenses.
Flexible Access to Funds
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Draw funds as needed
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Reuse credit as you repay
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Ideal for ongoing projects or expenses
Pay Interest Only on What You Use
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No interest on unused funds
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Control your borrowing
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Manage cash flow efficiently
Common Questions About HELOCs
How is a HELOC different from a home equity loan?
A HELOC is a revolving line of credit. A home equity loan provides a lump sum.
What is the draw period?
The time you can access funds, typically 5–10 years.
Are rates fixed or variable?
Most HELOCs have variable rates that can change over time.
What can I use a HELOC for?
Home improvements, debt consolidation, education, or other major expenses.
