Any of these projects on your list?
If you're a homeowner, a Home Equity Line of Credit is one of the best ways to borrow because the interest may be tax deductible.* A Home Equity Line of Credit is a variable rate revolving credit line that allows you to borrow 80% to 95% of your home's value. Just use the amount you need, when you need it!
|"How much equity do I have?"||Here's an example:|
|Appraised value of home||$100,000|
|Multiply by 80%||$ 80,000|
|Subtract balance of first mortgage loan||- 60,000|
|Potential line of credit||$ 20,000|
Accessibility. Access your line of credit through CATS Line, CATS online, or with specially issued Home Equity Line of Credit checks.
Perfect for members with $25,000 of equity in their homes, at 80% LTV or less.
We've built a better home equity loan! We've lowered rates and through September, there are no closing costs on our fixed rate home equity loans.
Although similar to home equity lines, second mortgages feature a fixed rate for a fixed period of time. A home equity loan is often used for a large purchase or debt consolidation.
*Consult your tax advisor regarding deductibility. Property must be primary residence in the state of Ohio. Equity Rate is subject to quarterly adjustment.