Home Equity Line of Credit

A home equity line of credit is a revolving line of credit secured by the equity in your home.  This is a great option to finance ongoing projects on your home or other large expenses such as medical bills or educational expenses.

• Rates start as low as prime + .50%
  All rates, terms and conditions are subject to change without notice. Please contact a TowneBank office for the APR currently in effect.
• Repayment of interest only or 1.25% of the outstanding balance
• Borrow up to 80% of the home’s value
  Available equity depends on balance of other loans tied to the property
• 15 year draw period
• Interest is tax deductible in most cases. Consult your tax advisor.

Compare to a home equity loan. 

TowneBank NMLS# 512138