Home Equity Line of Credit

Borrow from the equity in your home to finance projects or cover other expenses.

How it works: A home equity line of credit allows you to draw the amount you need, as you need it, from your approved credit line.

The lowdown:

• Access funds as needed
• Floating loan rate may be lower than rates for other types of credit
• Flexible monthly payments
• Interest only payments for up to 10 years
• Interest may be tax deductible

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