Remodel room by room, or choose to do it ALL…
HeLOCK can help make it happen!
Instead of using your savings account or other investments, a HeLOCK allows easy access to funds by using the existing equity in your home. Use for home improvement projects or other purchases.
Program Features:
•HeLOCK offers a Fixed Rate
•Borrow up to 90% of your home’s value
•5 to 10 year draw periods, with
interest only payments
•No prepayment penalties!
* All HeLOCK applications are subject to credit approval. HeLOCK offers a fixed rate determined by credit qualifications. For additional information, including specific details on third-party fees and other terms and conditions that may apply, Contact Us or call 1.877.964.3262.
Why choose a Home Equity Line of Credit?
Equity is the difference between what your home is worth, and what is owed on it. Midcoast allows you to use 90% of that amount as collateral to borrow funds. Much like a credit card, you are approved for a credit limit. You can use and pay back as much of that limit as you want, without having to reapply for a loan each time.