A Home Equity Line of Credit (HELOC) enables a homeowner to obtain funds by using a home as collateral. A Gold Coast HELOC might be the best choice to obtain funds for a renovation, large purchase or a child’s college tuition. Our Home Equity Line of Credit provides the flexibility of an available line of credit for whenever you need funds.
A Home Equity Line of Credit is revolving, variable rate credit and is secured by your home. The amount you can borrow is based on the amount of equity you have in your home.
- Access your money any time of day by simply writing a check
- Pay interest only on the outstanding balance during the draw phase of the loan. In addition, you can make principal payments during the draw phase and have the amount of paid principal available for use
- You can borrow up to 75% of the appraised value of your home less any first mortgage, up to $1,500,000
- HELOCS are available on primary and vacation homes
- Certain tax advantages may apply; check with your tax advisor to determine your eligibility. Other terms and conditions may apply