What is a HELOC?
A home equity line of credit (HELOC) is an open-ended line of credit that lets you borrow money against the equity in your home. Your home equity is the difference between your current mortgage balance and the market value of your home.
Benefits of a HELOC
HELOCs provide you with a greater financial flexibility to reach your goals.
- Borrow money as needed for entire draw period up to credit limit established
- Monthly payment based upon what you have borrowed
- Competitive interest rates
- Financial flexibility for using funds
Home Equity Loans
If you are looking to finance a larger expense at one time, a Home Equity Loan may also be a good option.
- Receive loan balance in lump sum
- Competitive interest rates
- Scheduled payments of principal and interest
- Financial flexibility for using funds
Are you looking to purchase a new home or refinance an existing mortgage? Explore our Home Mortgage Loans and Home Mortgage Refinancing options.
Run the numbers so you can start planning with our Mortgage Financial Calculators.
Why a Community Bank?
At BTC Bank, investing locally enables us to support our communities and their unique needs. Unlike large commercial banks, the money you deposit with BTC Bank stays local, growing the economy and creating jobs. Banking with a community bank is like shopping local—it keeps money in the community and helps it thrive.
Frequently Asked Questions
How do I qualify for a HELOC or Home Equity Loan?
Please contact one of our local lenders to inquire about the qualification process.
What can I use a HELOC or Home Equity Loan for?
The answer is just about anything. For example, increasing the value of your home through renovations, paying for a vacation or wedding or consolidating higher interest debt, such as credit cards.
What kind of fees and closing costs can I expect with a Home Equity Loan?
It varies, so please check with your local lender regarding closing costs.