Home Equity Lines of Credit
A wonderful option for using the excess cash in your home.
This is a variable rate loan that allows you to make draws against the equity in your home, much like using the available credit on your credit card.
A First South Financial Home Equity Line of Credit (HELOC) offers you the following benefits:
- A great low interest rate
- No floor rate
- Limits as high as $500,000*
- No points or origination costs
A home equity line of credit is a great way to pay for:
- Major home remodeling
- Purchasing a vehicle
- A dream vacation
- And more!
Have more questions? Check out our HELOC FAQs page.
|Home Equity Line of Credit|
|Effective Date: Monday, February 27th, 2017|
|Loan to Value (LTV)||Terms and Draw Periods||Rates|
|Up to 80% LTV||up to 20 years/12 year draw period||Prime + 0.00%^|
|81% to 90% LTV||up to 20 years/12 year draw period||Prime + 2.00%^|
|91% to 95% LTV||up to 20 years/12 year draw period||Prime + 4.00%^|
|Now offering a 2.25% APR^ 12-month introductory rate!|
We also offer many ways to make your home equity loan payments. Learn more about our loan payment options.
*Rate is based on Prime as published in the Wall Street Journal, which is currently 3.75% APR, plus a margin as listed. Rates are subject to change quarterly. Loans are subject to approval criteria; not all applicants will qualify. Members may be responsible for the appraisal fee which is approximately $350 or more. Please consult your tax advisor regarding interest deductability. Please see First South Financial for complete details. NMLS# 410640
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