Access the equity in your home whenever you need it with our HELOC Plus! A home equity line of credit can help achieve your financial goals and provide much-needed relief when you need it most. Plus, no appraisal necessary under $250,000!
Home Equity Line of Credit Plus (HELOC Plus)
Details
Benefits of HELOC Plus
- No appraisal necessary, (under $250,000)
- Use your home’s equity to finance a home improvement project, consolidate debt, or use towards college tuition
- It’s an easy, accessible line of credit
- If you don’t need it, don’t use it
- Pay interest only on what you use
- Lower interest rate than most credit cards
- Options to fix rates & payments based on your needs
Features of HELOC Plus
- 25-year loan product with a 10-year draw period and 15-year principal and interest repayment period.
- Ability to lock in a portion or the full HELOC balance with up to 3 fixed rate installments at a time*
- Borrow up to 80% of your home’s value
- Variable rate loan
- Low origination costs
Easy Application Process
- Simple online application portal is accessible 24 hours a day
- Receive knowledgeable, local, and friendly service from our experienced lending team
Local Service
- Local loan advisors with knowledge of the real estate market
- In-house processing and underwriting
- Your loan stays with us
- For every closed mortgage loan, we donate $50 to one of our local non-profit partners of your choosing
Additional Loan Information
- Home Equity Line of Credit Pre-Disclosures (Loan amount ≤$250,000, current mortgage with Sound Community Bank)
- What You Should Know About Home Equity Lines of Credit (from the Consumer Financial Protection Bureau)
- Adjustable Rate Mortgages (consumerfinance.gov)
Offer of credit is subject to credit approval; annual fee of $50 charged on anniversary date. Investment properties up to 75% LTV. $250 fee per installment.
NMLS# 414462