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Home Equity Line of Credit (HELOC)

Apply Online Now to Refinance Your Mortgage

A Home Equity Line of Credit (HELOC) from Landmark Bank allows customers to finance purchases against built-up home equity at a competitive rate.

Getting a HELOC from Landmark Bank is easy, and our experienced home loan lending team will help navigate you through the entire process, helping you understand the fees involved and getting you a great interest rate to achieve your financial goals. 

When Should I Use a Home Equity Line of Credit?

While similar to a Home Equity Loan, a Home equity line of credit is perfect for borrowers who need to use their home equity to finance other needs but are unsure of the actual amount needed to complete the project or transaction. 

A Home Equity Line of Credit would be used if you plan on remodeling your home but have not received a clear-cut bid for all of the necessary work but have an idea of the maximum amount you will need to spend.

For fixed amount purchases, like a new car or a vacation, a Home Equity Loan would better suit a borrowers needs over a HELOC.

How Does a Home Equity Line of Credit Work?

A Home Equity Line of Credit is similar yet very different from a credit card in both how they operate and how they can be used. HELOC borrowers are approved up to a maximum amount within a given term period, with the home being used as collateral, allowing for much lower interest rates compared to a credit card.

A Home Equity Line of Credit has a draw period, in which borrowers are allowed to take out funds from established home equity up to the agreed upon maximum amount.

Payments on borrowed funds consist of principal and interest, and in most cases interest is tax deductible*.

Apply for a Home Equity Line of Credit at Landmark Bank

Landmark Bank’s experienced real estate professionals make getting a HELOC and understanding the ins and outs of HELOC loans simple for any homeowner.

Visit a branch or apply for a Home Equity Line of Credit online today.

*Landmark Bank is not a tax advisor please consult a licensed tax professional.

 
 
 
 
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