Home Equity Line of Credit
A home equity line of credit (HELOC) offers you the flexibility and low rates you need for almost any purpose. A HELOC is a revolving line of credit that works more like a credit card than a loan, allowing you to borrow over a period of time instead of in one lump sum. You only pay interest on the money you borrow, but have the credit available to you as you need it. This is ideal for paying college tuition or planning a long-term remodeling project.
Advantages of an Advancial HELOC:
*Consult your tax advisor for deductibility of interest.
- Rates are usually lower than most other consumer loan products
- Flexible access to money as needed and in varying amounts
- Interest accrues only when your line of credit is accessed
- Interest paid on the loan may be tax deductible*