Your HELOC benefits - Veridian

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HELOC Benefits

POSTED IN ARTICLES ON MONDAY, FEBRUARY 4, 2019

A Home Equity Line of Credit is a flexible funding source.

You can put the equity in your home to work with a HELOC from Veridian. If you have credit card balances, loans and other bills, you could lower your monthly payments by consolidating that debt into a HELOC. Or use your equity to increase your home's value by making improvements – HELOCs are flexible enough for all sorts of expenses, from big renovations to smaller purchases like lawn mowers, air conditioners and camping gear.

What are the benefits of a HELOC?

 Savings

 Simple Process

  • Interest only accrues on your balance, so you're not paying to borrow money you don't yet need.
  • HELOCs have lower rates than credit cards and personal loans, which means more savings overall. 
  • There is no application fee and no annual fee for a HELOC.
  • It's easy to apply and quick to close. We'll walk you through every step to ensure you understand your loan .

 Convenience

  Borrowing Power

  • Transfer funds to your checking account anytime, anywhere in online banking or our mobile app.
  • With a HELOC, you borrow as you go. Your line of credit is always there for you whenever you need it.
  • You can borrow up to 100% of your home's value for 25 years.
  • Since a HELOC is a revolving line of credit, you can pay it off and borrow up to your limit again and again.

If you're interested in a HELOC, check what documents you'll need and then apply online today. To discuss how a HELOC might fit into your life, schedule an appointment with a Veridian specialist.

Apply Online

APR = Annual Percentage Rate. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments using your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Rate fixed for first 60 or 120 months of the 25-year term; after that, the rate is variable and the maximum APR is 21%. Add 2.0-2.5% to interest rate for home equity lines of credit with loan-to-value ratios over 80% (maximum of 100%). Rate may not be used in conjunction with first-mortgage loans. Closing costs as low as $200. Appraisal fees may apply. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval. See Veridian for details.

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