A Home Equity Line may be right for you if you have a recurring expense such as college tuition or a home renovation.
- Flexible open-end loan with a variable rate
- 10-year draw period and a 10-year repayment period
- You can borrow up to 90% of the appraised value of your home, less any outstanding mortgages owed on the property
- Interest may be tax deductible, so check with a tax advisor
- Access funds as needed through Online and Mobile Banking, by phone, convenience check or at a branch
- Useful for VACU checking overdraft protection
- No closing costs