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Using your HELOC

Posted in Articles on Tuesday, October 17, 2017

Get a small rate for your big plans.

Using the equity in your home is a great way to start big plans with a small rate. Home equity loans typically have lower rates than the average credit card, and a monthly payment of only 1% of your balance ($50 minimum).

Now is the time to lock in 3.40% APR with a five-year fixed Home Equity Line of Credit (HELOC). The bigger the expense, the bigger the savings.


Borrow from your HELOC to fund any large expense, like:

​Home Remodeling

Debt Consolidation

Medical Expenses

Weddings

New Vehicle

Emergency Fund

Applying is easy with no annual fees, and no application fee. Plus, your funds will be available within weeks. Call, stop by any branch, or schedule an appointment to learn more.

Apply online

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APR = Annual Percentage Rate. Rate is fixed for first five years of the plan, and after the five-year (60-month) term expires, the rate is variable and the maximum APR is 21%. For a $30,000 five-year fixed HELOC at 3.40% APR, the monthly payment will be $300 (taxes and insurance premiums not included). Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments from your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Add 2.50% to interest rate for loans with loan-to-value ratio over 80%. Appraisal fees may apply. 

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