Home Equity Lines of Credit (HELOC)
We offer several different types of home equity lines of credit (HELOC). These are revolving (bubble definition) lines of credit that allow you to decide how much to borrow and when. A HELOC differs from a conventional Second Mortgage in that the borrower is not advanced the entire sum up front, but uses the line of credit to borrow sums that total no more than the original amount set up. You are given a separate checkbook to access this line of credit. These types of loans are secured by your home and normally run for ten years. Shorter lengths are available upon request. Home equity lines of credit are not available on non-owner occupied properties. Our lines of credit have a minimum of $1,000 and a maximum of $100,000, depending on equity.
Standard HELOC
- 80% loan to value (based on tax statement, market analysis or, upon request, a standard appraisal)
- Ten-year term
- Payments vary (1% of principal amount plus monthly accrued interest)
- Automatic payment available
- Interest rate variable, tied to an external base rate (prime rate)
- Rate may change monthly and can affect monthly payment
- Accessible by check or photo debit card
Expanded HELOC
- 90% loan to value (based on tax statement, market analysis or, upon request, a standard appraisal)
- Ten-year term
- Payments vary (1% of principal amount plus monthly accrued interest)
- Automatic payment available
- Interest rate variable, tied to an external base rate (prime rate) and priced 1% above Standard HELOC
- Rate may change monthly and can affect monthly payment
- Accessible by check or photo debit card
For Home Equity Rates, please contact a member of our Personal Banking Team.
* All loans subject to credit approval
Personal Loan Application (19KB PDF)
Overdraft Line of Credit
Write yourself a loan with Overdraft Line of Credit. This convenient and expense-saving product operates as overdraft protection and an unsecured line of credit.
- Requires a personal loan application to be completed, processed and approved.
- Advances up to pre-approved limit.
- Automatic advances, in $100 increments, when checking account falls below $0.
- Payments are automatically deducted from the checking account 10 days after the statement cycle date.
- Access through checking account via check, Info Line telephone transfer, ATM, and debit card.
- No advance fee.
- Annual Fee may be applied.
* All loans subject to credit approval
Personal Loan Application (19KB PDF)