A home equity credit line allows a homeowner to borrow against the equity in their home with specific limits and terms. This is an open-end loan with the ability to borrow and repay funds as needed for a variety of purposes.
- Up to 90% maximum LTV* for eligible borrowers
- No closing costs or annual fee
- Loan term of 10 years
- Requires a minimum monthly payment of principal and interest if there is an outstanding balance
- $10,000 minimum loan amount
- Only available on 1-4 family owner occupied dwellings
- Convenient access by check, online banking, or at one of our branches
- Interest may be tax deductible (consult your tax advisor)
** LTV - Loan to Value
** PMI - Private Mortgage Insurance
Call a member of the Alliance Bank Lending Team today!