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Home Equity Lines of Credit | ||||||
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We will bill you monthly with a statement for interest with an index based on the Prime Rate and only on the amount you actually have outstanding, not the actual credit line limit. During the term of your credit line principle may be advanced, repaid and re-advanced at your convenience, utilizing your Home Equity Line of Credit checks. This feature is nice to have so you can utilize your credit line anywhere. Remember, the interest you pay may be tax deductible, and could result in a tax break. Consult with your tax advisor to analyze your specific situation. Please contact a Lender for more information on this wonderful product. |
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