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