Home Equity Line of Credit

A great loan for those who do not mind an adjustable rate and want to take out the equity in the home.

Advantages

• You only borrow what you need
• You can opt to pay interest only on what you borrow
• Flexible access to funds

Disadvantages

• Rates will change. based on prime index (Adjustable Rate)
• Payments will change
• Must repay typically within 10 yrs period or fix rate at the going rates.