Your Home Equity. Available When You Need It.
Thinking about improving your home, making it easier to live in, or having additional funds available for the years ahead? A Home Equity Line of Credit could put some of the equity you've built within reach.
With a HELOC, qualified homeowners can draw money from an approved credit line as needs arise, often without replacing their existing first mortgage.
Your Home Has Built Equity. Put It to Work on Your Terms.
A HELOC is different from a loan that gives you one lump sum. It allows you to draw from an approved credit line during a designated period, so the money can be available when your plans call for it.
Borrow as Projects Happen
Planning improvements in stages? Access available funds as the work moves forward rather than taking a full lump sum at the beginning.
Keep Your First Mortgage
Many HELOCs are structured as second liens, allowing homeowners to retain their existing first mortgage and its interest rate.
Interest on What You Borrow
Interest is generally charged on the amount you've actually drawn, not the full available credit limit. Program fees and minimums may apply.
More Financial Flexibility
Explore funding for home updates, accessibility improvements, family priorities, or expenses that may come along during retirement.
What Would You Do With Access to More Funds?
You've worked hard to build equity in your home. You may be able to use some of it to accomplish the things that matter to you now.
You Don't Have to Know Every Expense in Advance.
Maybe you'd like to update the kitchen now and make the bathrooms easier to use later. You might want to plan for in-home assistance, take care of a larger expense, or simply have more choices as your needs change.
With a HELOC, qualified homeowners can access funds from an approved line during the draw period. If you've already secured an attractive rate on your first mortgage, you may be able to leave it in place.
Instead of tying your plans to a single upfront loan amount, a HELOC can offer a way to borrow as different needs arise.
You've built equity over the years. Find out how much of it may be available to help with your plans today.
How much of your home equity could you access? Tell us about your home and what you want to accomplish.
Check My Home Equity OptionsAn Approved Line of Credit. Funds When You Need Them.
A HELOC is built around access and flexibility. Here's the general idea.
Explore Your Available Equity
The potential credit line depends on your home's value, existing mortgage balance, credit, income, and lender guidelines.
Draw Funds as Needed
Once approved and opened, use available credit during the draw period for the expenses and projects you choose, subject to loan terms.
Repay Under Your Loan Terms
Make the required payments on what you've borrowed. Most HELOCs have variable interest rates, and payment requirements can change.
HELOCs generally have a draw period followed by a repayment period. Available credit, draw rules, interest rates, fees, and required payments depend on the selected lender and loan program.
Questions Homeowners Often Ask.
Do I have to refinance my current mortgage?
Not necessarily. Many HELOCs are second liens, so your existing first mortgage can remain in place with its current rate and terms.
Do I receive all the money at once?
Usually not. A HELOC gives you an approved credit line you can draw from during the borrowing period, subject to any minimum-draw requirements.
Can I use a HELOC to make my home more comfortable?
Yes. Home improvements, accessibility features, and other household expenses are common reasons homeowners explore a HELOC.
How do I find out what I might qualify for?
Complete our short Home Equity Survey. We'll review your goals, your home's estimated value and existing mortgage, and a few financial details to explore available programs.
Your Home Equity Could Help Make Your Next Plans Possible.
Whether you're planning improvements now or want more flexibility for the years ahead, our short survey is the first step toward finding out which home equity options may be available.
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