Home Equity Lines of Credit and Loans
Let your equity work for you.
Let your equity work for you.
A home equity line of credit allows you to borrow money against a limit determined by the equity you’ve built through home ownership. You pay interest only on the amount you use.
A home equity loan allows you to borrow money against a limit determined by the equity you’ve built into your home. Our First National Home Equity Loans have competitive interest rates and a variety of payment terms to meet your needs.
What is a HELOC?
A revolving line of credit secured by your home equity. It allows you to borrow money against a limit determined by the equity you’ve built through home ownership. You pay interest only on the amount you use.
How is a HELOC different from a HELOAN (Home Equity Loan)?
HELOCs provide revolving credit, while HELOANS offer a lump sum.
More info: HELOC and Home Equity Loan. Which one is best for you?
How much home equity do I have?
It depends on the equity you’ve built through home ownership. You would need to subtract your mortgage balance from your current home value.
How much can I borrow with a HELOC?
About 80% of your home’s value minus the mortgage balance.
What can I use a HELOC for?
You can use a HELOC for almost anything including home improvements or repairs that can increase the value of your home, debt consolidation, or create a safety net in case of unforeseen emergencies.
Get a 0.25% rate discount on your Home Equity Loan or Line of Credit with a Free Checking account relationship.