HELOC Special — A smart way to tap your home's equity.
Our HELOC Special offers a fixed rate as low as 2.49% APR* for 6 months, then variable rate as low as 4.00% APR*. Plus, $0 closing costs.°
Use your HELOC for home improvement, debt consolidation, vacations or just about anything. Apply online and get a decision on your loan in minutes.
Should I get a HELOC or a Home Equity Loan?
A home equity line of credit is like a bank account where you can continuously access your available funds up to your credit limit. As you repay the loan you can access the money available again and again, without having to reapply for the loan. Easily transfer funds from your HELOC to your checking or savings account through online or mobile banking, or use complimentary checks to pay for purchases.The annual percentage rate is variable and will change with the prime rate.
Fixed Rate Home Equity Loan
With a fixed rate home equity loan, you borrow a fixed amount and pay back the loan over a pre-determined period of time. The monthly payment for a fixed rate loan is typically higher than a line of credit, but you may pay off the loan quicker.
Home Equity Line of Credit
Fixed Rate Home Equity Loan
|Monthly Payments||Minimum of $50, or as low as 1% of amount financed||Set amount|
|Financing||Up to 90%||Up to 90%|
|Repayment Term||Up to 22 years||Up to 15 years|
|Closing Costs||As low as $149**||As low as $149**|
|Annual Fee||No, for qualified credit||No|
|Tax Deductible Interest**||Yes||Yes|
The home equity interest you pay may be tax-deductible.
The interest you pay on a home equity loan or line of credit may be tax-deductible, which further reduces the cost of borrowing. This type of deduction is not available for interest paid on credit cards, car loans, and personal loans. See your tax advisor on tax-deductibility.
Rates accurate as of 3/17/2020 and may change at anytime. Introductory rate is 2.49% APR for 80% loan-to-value and 2.99% APR for 90% loan-to-value. Introductory rate is based on a new home equity line of credit of at least $10,000 opened between 03/01/2020 and 07/31/2020 and qualifying credit. Introductory rate will remain in effect for 6 months following closing of the loan, then changes at the beginning of the seventh month to a variable rate of Prime rate as published in The Wall Street Journal plus a margin ranging from 0% to 2.5%, and will never fall below the floor rate of 4.00% and will never exceed 18.00%. As of 03/017/2020, the Prime rate was 3.25%. Property insurance required. The proceeds of the new line of credit cannot be used to pay off existing Heritage loans or lines of credit, unless an additional $10,000 in line availability above the payoff is established. Maximum home equity line, interest rate and monthly payment depend on home value and total loans secured by home. No annual fee. Subject to a minimum share requirement of $5. Promotion may change or end at any time. **Closing costs waived from $149-$199 do not include cost of appraisal, if needed, which can range from $400 to $700. See your tax advisor on tax-deductibility. NMLS ID 412170