FDIC-Insured – Backed by the full faith and credit of the U.S. GovernmentHome Equity Loans and Lines of Credit
For home improvements, financing college tuition or just about anything else.
Borrow against the equity you have in your home.
Depending on your home’s available equity and your preferred terms, we offer two home equity options.
Home Equity Loans
Home equity loans are considered "traditional" loans using a home's equity. You, as a borrower, will receive a lump sum of money to be paid back in set monthly amounts. The amount of equity available to you depends on several factors including the value of the property, the amount owed on the property and how much it’s worth.
Home Equity Lines of Credit
Home equity lines of credit (HELOC) allow you to take out a line of credit of up to 90% of your home's equity. Once available, you can use the funds as needed. There’s typically a "draw" period when you’ll have to make interest payments. When this period is over, you’ll make combined interest and principal payments until the loan is paid off.
Ready to apply?
Going with a home equity loan or a HELOC tends to be lower-risk than taking out a personal loan. If you have a large, upcoming expense, either option can be a worthwhile choice.
Review our home equity checklist here.