(Home Equity Line of Credit)
Need money – but you’re not sure quite how much?
A Home Equity Line of Credit (HELOC)* might be the answer!
A HELOC is a finite sum of money set up as a line of credit. You access the money as you need it and make payments only when you’ve drawn on the credit line.
No application fee
No points or origination fees
$5,000-$100,000 open-ended credit line
Terms up to $10,000 for 72 months; over $10,000 for up to 120 months
Variable rates as low as 4%, depending on prime rate and individual circumstances; your rate may be higher.
Third party fee for appraisal and title (minimal closing costs)
A HELOC is perfect to help you afford home repairs and remodeling projects, college expenses or even your daughter’s wedding. And…the interest may be tax-deductible**.
Call us today and get what you want right now!
309.661.1166, ext 218 or 800.527.2205.
Or click here for a HELOC application
*Service for Illinois members. Must meet current lending guidelines. Rates subject to change without notice. Fees are typically between $200-$500.
*Consult your tax advisor regarding deductibility of interest.
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Membership is open to anyone who lives or works in McLean County, is related to a current MICU member, or would like to join the Mid-Illinois Dollars for Scholars Foundation.
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