Home Equity Comparison

Home Equity Line of Credit*

Home Equity Loan*

Current Rates

Prime Rate + .5% (currently 3.75% APR)**

Variable Rate
A variety of terms are available with fixed rate and adjustable rate options.
Closing Costs A $95.00 fee due from borrower. On lines up to $250,000, desktop appraisals and all other closing costs are paid by the bank (excluding title policies, settlement fees, and full appraisals).^  Closing costs vary depending on the amount of the loan.

Repayment Options
Monthly payments may be either interest only or 1.25% of the outstanding balance.
Monthly fixed payments include principal and interest for the specific term of the loan.
Access to Money
Access funds as needed either through transfer to bank account or by check.

Revolving line of credit that you can conveniently use and pay down for 15 years.
Receive a check or deposit for the entire amount of loan.

Your Needs Ongoing expenses such as home improvements, car payments, education needs, or medical expenses. One time large expense such as a major home renovation, purchasing a car, or paying off debt.
Tax Benefits+ Interest is potentially tax deductible. Interest is potentially tax deductible.
LineLock
Feature 
Enjoy a fixed rate on portions of your home equity line of credit; terms range from 6 to 84 months. Ask us about current rates. 

$100 fee applies for each LineLock