Features and Options
Variable Rate Option
You have ten years to draw and repay on the line of credit and up to 15 more years to repay the remaining outstanding balance. No minimum draw.
Fixed Rate Option
Convert a portion or all of your outstanding Home Flex balance to a fixed interest rate, with up to three fixed-rate conversions.2
Easy to access and use
Once your HELOC is approved, you can request a debit card or checks to access your available credit. Use your debit card anytime, anywhere Debit Mastercard is accepted to pay for the important things in your life.
Ready to Get Started?
Our loan experts are ready to help you secure a HomeFlex Equity Line of Credit (HELOC) to meet your unique needs.¹
Remodeling projects or big item purchases for your new space
Major medical or unexpected expenses
Family dream vacation
Milestone celebrations
Maximum Loan Amount
The value of your home determines your maximum loan amount. The maximum loan-to-value ranges from 65% to 75%. Check your latest tax valuation card to see where you stand. If the assessed amount does not accurately reflect the value of your property, you have the right to request the bank to arrange for an appraisal at your expense. The appraisal fees must be paid upfront.
The maximum loan amount allowed will be determined by whether the HELOC would be considered a 1st or 2nd Deed of Trust (DOT), and if the property is owner-occupied or not. If the HELOC is a 2nd DOT then the combined amount of your existing mortgage and the HELOC cannot exceed $600,000.
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Disclosures
- Credit limit and some restrictions apply.
- Restrictions apply: You can convert to a fixed rate only during the ten (10) year Draw Period. In addition, the following rules apply to the conversion option. Minimum conversion amount is $5,000 and the maximum payment term is 180 months for each conversion. No fixed term advance may be made within one year period following the making of a previous fixed term advance. There may not be more than three (3) outstanding fixed term advances.