Your home can help build your future.

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If you've been making regular mortgage payments, there's a good chance you've got some equity built up that can be used as loan collateral.

What's equity, exactly? It's the difference between the value of your home and what you still owe on it. For example, if your home is valued at $200,000 and you owe $150,000 on it, you've got $50,000 in equity. You may borrow up to 90% of your home's equity – which is why equity is so important.

Once you figure that number out, now's the time to choose between a Home Equity Loan and a Home Equity Line of Credit. A Home Equity Loan is a lump sum loan where you'll pay a fixed interest rate over a fixed term on the amount taken. A Home Equity Line of Credit is where you'll pay a variable rate, but only on the amount you've used (kind of like a credit card).

If you need to borrow money for something big like a college education, a wedding or debt consolidation, or if you're planning on taking care of some remodeling projects around the house, our Home Equity Loans and Lines of Credit will help you stand tall. Give us a call and let's schedule an appointment to talk about your needs and options. If you're ready to get started now, you can easily apply online.

In addition to a fixed rate home equity loan and a variable rate HELOC, we offer a Home Equity Line of Credit called Multi-Lock, which allows you to lock in a portion of your HELOC at a fixed rate. By locking in portions of your credit line, at fixed rates available at the time of lock, you don't have to worry about rising interest rates.

To learn more about our Home Equity Loans and Lines of Credit, read our Home Equity Frequently Asked Questions page.

If you're not a member and you'd like to enjoy the Heritage Grove difference, we'd be happy to get you enrolled today. You can also enroll online.

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Home Equity Loans and Lines of Credit