Lines of Credit

A Home Federal line of credit may be a great way to control the flow of funds into and out of your accounts. A line of credit is access to a certain amount of funds that you can use – as you need them – for a wide range of everyday expenses, and pay them off as you go. Unlike a loan (where you receive a lump sum upfront and start paying interest on right away with your monthly payments), with a line of credit, you only pay interest when you use the funds, and only on the amount you borrow. We offer two different lines of credit options:

Unsecured Line of Credit

This revolving line of credit has no annual fee. It may be used as a sweep account for overdraft protection and offers free online and mobile banking access, eStatements, and more.

Home Equity Line of Credit

This revolving line of credit is similar to an unsecured line of credit only it uses the equity built in your home as collateral. It features an adjustable rate, and has flexible interest and repayment periods. Even more information on a Home Equity Line of Credit (HELOC) can be found here.

For more information on lines of credit, and to find out what you qualify for, please contact our Consumer Lending Team.

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