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If you've paid off a significant portion of your mortgage or the value of your home has gone up, you could have a good amount of equity.  Use it to get a loan or a line of credit with a low interest rate and affordable payments -- let us help you get the financing you need!

Type Home Equity Line of Credit (HELOC) Home Equity Loans
How It Works Functions like a credit card with a limit based on a home's equity* Functions like a mortgage with a loan amount based on a home's equity*
How Money is Received Apply once and draw funds as needed for a 10 year period One up-front lump sum
Interest Rate Variable interest rate Fixed interest rate
Pay Interest On Only pay interest on what you draw from your line of credit Pay interest on the total loan amount borrowed
How You Repay For first 10 years, billed for interest only (draw period), and any extra paid during those years is applied to principal. After the draw period ends, payments become principal and interest to satisfy the debt within the 15 year amortization period. Fixed payments of principal and interest (predictable repayment)
Taxation Interest paid may be tax-deductible** Interest paid may be tax-deductible**
Decision-Making Made locally, in Harbor County area Made locally, in Harbor County area
Best For Recurring expenses (ex. tuition, medical bills, home repairs, home improvements) Non-recurring expenses (ex. major home renovations, consolidating debt)

You may qualify for our Dreamline Home Equity Line of Credit with a low introductory rate for first 6 months!

Questions? Ready to get started? Contact a Branch Representative today!