Home Equity Line of Credit
Our experienced Loan Advisors are here to listen. Let us answer your questions so you can be on your way to making that big purchase, consolidating debt, or starting that long-awaited home improvement project with a new Home Equity Line of Credit.
Why Choose a HELOC?A Home Equity Line of Credit gives you easy access to the equity in your home to pay for home improvements, college tuition, unexpected emergencies, and more. And, the funds are available when and if you need them providing access for an initial 15 years without reapplying.
Today's low home equity rates*
HELOC rates are typically much better than other high-rate credit cards and are often great options for debt consolidation. And, for a limited time, you’ll benefit from a 9-month introductory rate at 1.49% that adjust to 3.50%*
What about Payments?
HELOCs allow you to make interest-only payments based upon how much of the line you use. If you have a $50,000 credit limit and only use $10,000, you will only pay interest on the $10,000. Then, as you pay down your line, the funds become available to you. If a fixed payment sounds better to you, check out our home equity options – including term loans.
No Fee applies only to owner-occupied residences and line amounts up to $250,000. Does not apply to non-owner-occupied duplex, investment, multi-family, bridge loans, or purchase transactions. Annual fee is waived for the life of the loan. No reimbursement fee. Introductory APR (Annual Percentage Rate) will be fixed at 1.49% APR for the first 9 months for those lines with up to 89.9% loan to value (LTV). Thereafter, the rate may vary. The rate is based on credit score, LTV and the Prime Rate + .25%. The Prime Rate equals the highest Wall Street Journal (WSJ) prime rate as published in the WSJ effective the date the 9-month introductory period expires. WSJ Prime Rate effective 8/18/21 is 3.25% APR. Example: credit score of 740+ and LTV of 70% or less will have a rate of 3.50% as of the date of publication following the introductory period. Maximum rate is 25%. Offer excludes refinances of current Horizon home equity lines of credit opened within the last 12 months. Subject to credit approval. Other terms and conditions may apply and are subject to change without notice. Offer expires December 31, 2021.