Borrow smart when you can, and let the equity in your home go to work for you. Home equity loans have no prepayment penalties, and the interest may be tax deductible (consult your tax advisor for details).
When you need availability of funds over a period of time, and the flexibility to borrow money on multiple occasions, then a Home Equity Line of Credit (HELOC) is your answer. A HELOC is an ideal loan for ongoing home improvement projects, uncertain long-term expenses, or convenient access to funds whenever you need them.
The SLCCU HELOC Loan offers borrowers the following benefits:
- Introductory rate as low as 2.49% APR for one year¹
- Borrow up to 90% of your home’s equity
- We help pay closing costs²
- Make advances for up to 10 years
- Every loan helps the community