Use the equity in your home to your advantage.
Tackling home improvements? Planning a vacation? Looking to buy a new car?
Use the equity in your home to your advantage:
Features of a HELOC:
Secured by Home Equity: HELOCs are secured loans, meaning they use your home as collateral. The amount you can borrow is determined by the difference between your home's current market value and the outstanding balance on your mortgage.
Revolving Credit: HELOCs function much like a credit card. You can borrow and repay funds repeatedly during the draw period (typically 5-10 years). As you repay the borrowed amount, the credit becomes available again, allowing for ongoing access to funds.
Flexible Use: HELOC funds can be used for a wide range of purposes, from home renovations to covering unexpected expenses. Many people use them for debt consolidation to lower interest rates.
Only for Businesses using ACH, Wires, and Positive Pay and their employees.
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Secure Plus Benefits