Home Equity Line of Credit
Not sure exactly how much money you'll need? A home equity line of credit (HELOC) provides a revolving line of credit that you can draw funds from as needed, making it a more flexible borrowing option. You can access funds by check or online banking.
Details
- Security of knowing funds are there if you need them
- No prepayment penalties
- An appraisal may be required to estimate current home value
- Flexibility to access funds as needed
- Pay interest only on amount utilized during the draw period
- Use to fund whatever you require
- Competitive rates
Home Equity Line of Credit Rates
| Variable Interest Rate | Payments | APR* |
|---|---|---|
| Variable Interest Rate Wall Street Journal (WSJ) Prime |
Payments Monthly - Interest Only^ |
APR* 8.500% |
Tools & Resources
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February 12, 2020
How to Put Your Home Equity to Work for You
A child heading to college. A new roof or driveway. Updating your kitchen or finishing the basement. One way to meet the challenge is by putting the equity in your home to work for you.
Ready to get started?
Get the funds you need—on demand— with a home equity line of credit.
* For variable Lines of Credit, APR is based on WSJ Prime Rate, which may increase after account opening.
Maximum APR for variable Lines of Credit is 18%.
Home Equity Loan and Lines of Credit must be secured by a one to four family owner-occupied property with a loan to value (LTV) ratio of 89.9% or less.
Property insurance is required and flood insurance may be required.
Consult with a tax advisor to determine whether the interest you pay is tax deductible.
10-Year Draw Period.
15-Year Repayment Term.
APRs are accurate as of 8/21/2024 and are subject to change without notice.
Approval is subject to Brentwood Bank underwriting guidelines.
$50 annual fee required.
Appraisal Fee ranging from $330 to $610 may be required.