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Home Equity Line of Credit

Line of Credit Reviews



 
It’s those unexpected expenses that sneak up on you. With a Fidelity Bank Home Equity Line of Credit (HELOC), you can make sure you have money available when you most need it. It’s the perfect option for when you have ongoing expenses.

Apply today for a Fidelity Bank HELOC and get a competitive rate with affordable monthly payments. You can use the money to:

  • Improve your home
  • Pay for education
  • Pay off debt
  • Refinance existing loans
  • Buy a new car
  • Take a dream vacation
  • Other big purchases

With a HELOC, you can access your money quickly and easily, through a special Fidelity Bank Home Equity Line of Credit Card., or a check. Carry it wherever you go. Make purchases wherever the Visa® logo is displayed with it or simply get your money from an ATM. Or if you’d prefer, you can also write checks to draw upon your HELOC.

The interest rate on a Fidelity HELOC is variable and based on the Wall Street Journal prime rate.  Convenient term length options are available to meet your needs. To pay the loan back, you simply make monthly payments based on the funds drawn, plus interest. As you pay the principal back, it becomes available for you to use again.

What’s best for you: a Home Equity Loan or Line of Credit?
Both home equity loans and home equity lines of credit (HELOC) allow you to tap your home's equity. The right choice for you is based on your own needs and how you plan to use the money. Compare your options:

 

  Home Equity Loan (HEL) Home Equity Line of Credit (HELOC)
What’s the difference? A HEL is a great option when you’re paying for a one-time purchase like home improvements. A HELOC is a great option when you have ongoing financial needs such as college tuition or medical expenses.
How to I access my money? The full loan amount is paid out in one lump sum. The loan can be drawn upon when you need it, now or in the future, through a Home Equity Line of Credit Card or by writing checks.
What is the interest rate? Interest rate is fixed for the life of the loan with convenient term length options available. Interest rate is variable and is based on the Wall Street Journal prime rate.
How do I pay the loan back? Fixed monthly payments are determined at account opening based on the amount borrowed, the term of the loan and interest rate. Monthly payments are based on draw funds plus interest.

 

For more information about our Fidelity HELOC, give us a call at 1.800.388.4380 or stop by one of our full-service branches to speak personally to one of our friendly loan specialists.

 

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