Home Equity
Line of Credit

_{*APR = Annual Percentage Rate. Introductory rate of qualified variable rate minus 1% begins on 
date of closing and is effective for 12 months. After the 12-month period, the maximum APR that may apply is 18% and is disclosed in your Home Equity Line of Credit Account Credit Agreement and Disclosure Statement. Variable rate based on credit. Minimum loan amount of $5,000. Payments will be interest only for a 10-year period, with a balloon payment of all outstanding principal due at maturity. Example loan for $20,000, introductory rate of qualified variable rate minus 1% for 12 months of a term of 120 months, with an interest only monthly payment. After 10 years, a balloon payment of $20,000 would be due.}

_{Closing costs typically include title insurance, recording fee and range from $350 to $1,200. Property insurance required. Programs, rates, terms, fees and conditions are subject to change without notice. Introductory APR offered on new ChoiceOne Bank Home Equity Line of Credit. Customers who currently have a Home Equity Line of Credit through ChoiceOne Bank are not eligible. Offer valid on owner occupied property only where collateral loan to value is 80% or less. Proof of income required, subject to normal underwriting guidelines. Other restrictions may apply. Introductory APR offer good July 1, 2025 through September 30, 2025. Subject to credit approval.}

_{**Variable rates based on Prime plus or minus a margin (margin identified at time of application, is defined as the number of percentage points the lender subtracts or adds to the index rate to  determine the annual percentage rate to be charged). Member FDIC. Equal Housing Lender.}

Use the equity in your home to your advantage: 

• Debt Consolidation 
• Education Expenses 
• Wedding Expenses 
• and more! 

Features of a HELOC:

1. 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.

2. 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.

3. 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.