Home Equity Line of Credit (HELOC)

Ongoing Access to Credit

A home equity line of credit (HELOC) allows homeowners ongoing access to funds at a low, variable interest rate. Borrowers can draw on their line as frequently as needed, within their line limit. Our HELOCs feature:

• Competitive rates, plus a 0.50% rate discount for autopay (automatic monthly payments from a Bank of Canton checking or savings account)
• No fees or closing costs
• No initial draw required
• Line is available for 10 years, with an additional 10 years to pay off any outstanding balance
• Line limits as high as 75% of your property’s appraised value (up to $300,000)
• Interest may be tax deductible (consult your tax advisor)

Before applying, compare the features of a home equity loan to a line of credit. Our local branch staff can explain the advantages of each, and help you choose the best financing option to meet your needs.

Quick Links:

• Rates
• Compare Home Equity Options