Variable-Rate HELOCs Are Now Available

Fixed-rate home equity lines of credit (HELOC) are great for providing consistency and stability in a changing world. But what happens when the Federal Reserve lowers interest rates? 

That’s where the variable-rate HELOC comes into play. 

With a variable-rate HELOC, your APR^∋ will be equal to the Prime Rate, plus a margin. So when the Prime Rate changes, the rate on your HELOC would change with it.

Plus, just like a with fixed-rate HELOC, it’s an open line of credit you can use over and over again as needed. And you can use it for almost anything from home renovation to education expenses.  

Learn more about the variable-rate HELOC and decide if it’s a good fit for financing what’s next. 

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