Use the equity you've built in your home for major purchases, repairs and renovations.
A Home Equity Line of Credit (HELOC) is a revolving line of credit2 secured by your home, allowing you to access the available equity you have in your home. The amount you borrow is based on the difference between the debt secured by your home and its market value.
With an equity line, you can borrow as much or as little as you need, whenever you need it, up to a credit limit established at closing. As you repay your outstanding balance, the amount of available credit is replenished, which means you can borrow against it again, if needed.
Options to Fit Your Needs
As an alternative to this offer, we have a fixed rate option available and the ability for the Bank to cover up to $750 of your closing costs.2 Our bankers will help you find the option that best fits your needs.
1. 3.24% APR (Annual Percentage Rate) will be fixed for the first 12 months (introductory period). After the introductory period, the interest rate will be variable and based on the Wall Street Journal U.S. Prime Rate (WSJ Prime) which is 4.75% as of October 31, 2019. The minimum APR is 4.50% and maximum APR is 16.00%. Maximum term 120 Months (35 Month maturity option available in the state of Georgia). Minimum loan amount $10,000. Minimum advance of $10,000 required at closing. Offer is for primary residences only. Exclusions and limitations apply. Payment options include interest only, 1.00% of the outstanding balance or $100, whichever is greater, with outstanding interest, principal and any applicable fees due as a final balloon payment at maturity. Hazard insurance is required; flood insurance may apply. Estimated closing costs range from $655 to $1,680, which includes, but not limited to, appraisal, flood determination and attorney fees. Offer subject to change or cancellation without notice.
2. We may pay certain third party closing costs up to $750 on your behalf. However, if your HELOC is closed within thirty (30) months of the opening date, you must reimburse us for the closing costs paid by us on your behalf. Reimbursement of closing costs does not apply if the HELOC is originated by a North Carolina resident. Offer subject to change or cancellation without notice.
3. Internet service provider fees and/or message and data rates may apply.
4. Please consult your tax advisor about the deductibility of interest.