| Type |
MeritLine® Home Equity Line of Credit |
| Right for you? |
If you need to leverage the equity in your home for other big purchases, such as renovations or your child’s education. The amount available is revolving, resulting in a larger line of credit. |
| Interest |
Rates will fluctuate based on current prime, calculated monthly, not in advance. |
| Features |
Once approved, you have access to your home’s equity and do not need to re-apply. Allows you to take advantage of interest rates lower than regular credit cards. Maximum amortization of 20 years. |
| How to pay it down faster? |
Interest payments due on a monthly basis. Principal payments can be applied to MeritLine® at any time. |
Loan
or Mortgage Application