Unlock financial flexibility with your home’s equity
The value of your home changes with the market and your obligation decreases with every mortgage payment. The difference between these two numbers determines the equity available in your home, or how much of your home’s value you own.
What’s a HELOC?
A home equity line-of-credit, or HELOC, is a revolving credit line that makes your home’s equity available for a specific amount of time. As an open-ended loan, you can utilize the funds for emergencies in addition to planned projects and expenses.
Benefits of a home equity line-of-credit:
- Low cost – lower interest than most personal loans and credit cards
- Flexibility – borrow funds as needed, interest-only minimum payments
- Convenient Access – draw on your HELOC by transferring funds to your Vantage checking account anytime
Home Equity Line-of-Credit Rate as low as
8.25% APR* variable
tied to Prime, may adjust quarterly**
Effective: October 1, 2023
Borrow up to 90% of your home’s value
(Home Value x 90%) – First Mortgage Balance = Potential Loan Amount
No Closing Costs^
Even if a home appraisal is needed.
No Pre-Payment Penalty
Making larger payments can help you pay off your loan faster.
No Annual Fee^
Unlike big banks and other lenders.
A home equity loan or line-of-credit can be used for many purposes and the interest paid could be tax deductible.†
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Home improvements
Reinvest in your property by remodeling your kitchen, replacing the roof or creating an outdoor living space.
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Debt consolidation
Your home’s equity can be used to help you save money by consolidating higher-interest debt like credit cards and private student loans.
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Major purchases
Planning a wedding? Paying for college expenses? A home equity loan or HELOC could be an affordable solution.
Still considering other options for your upcoming project or expense? Evaluate the many ways Vantage can support your financial needs.
Calculators
Home Equity Loan or Line-of-Credit?
Using Home Equity for a Major Purchase
Consolidating Debt with Home Equity
Calculate a Home Equity Loan Payment
Calculate a Home Equity Line-of-Credit Payment
*APR=Annual Percentage Rate. Best rate quoted. Rates subject to change. Your rate may vary based on your credit profile.
**Variable rate may adjust quarterly; cap – 1% per quarter; index – Wall Street Prime; Floor | Max rate – 2.5% | 24.90%
^Please review: Important Terms of our Home Equity Lines-of-Credit and When Your Home is On the Line
†Consult your tax and/or legal advisor for advice and information concerning your particular situation.
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