Home Equity
Your home equity may be the solution
With Peoples EquityOne, you get the flexibility and features of a Home Equity Line of Credit, with the added security of a Fixed Rate and Payment Term Loan, all in one easy-to-use account!
Peoples EquityOne Home Equity Line of Credit
A Home Equity Line of Credit is a revolving line of credit that uses the equity in your home as collateral. A home is often your most valuable asset, so many homeowners use their equity to finance planned or unplanned major expenses, such as home improvements, education, debt consolidation, or medical expenses.
Access funds anytime. Home Equity Line of Credit payments are minimal, based on a variable rate; however, our convenient Fixed Rate and Payment Term option lets you fix the rate, term, and payment amount on all or a portion of your outstanding balance.
EquityOne Features
- Quick, local underwriting and processing.
- Low Rates – As compared to unsecured financing options.
- Access your account with line of credit checks or make transfers online to your checking or savings account.
- Home Equity funds used for home improvement or home purchases may be tax deductible, please speak with your tax advisor.
- Borrow and make minimal payments with the variable rate line of credit.
- At any time, easily convert all or a portion of your line of credit balance into a fixed rate term loan, up to your credit limit.
- Choose the term that meets your needs.
- Utilize up to three outstanding term loans at any time.
- As you pay back principal on the fixed or variable rate portion, your available credit increases again.
- No need to reapply each time you need a loan; there is little or no paperwork to set up subsequent term loans.
- Finance options for primary, secondary, and investment properties.
Equal Housing Lender