Home Equity Line of Credit (HELOC)

If you have equity in your home, a Home Equity Line of Credit (HELOC) from Bank of Internet USA allows you to use that equity to borrow money that you can access whenever you want. The major benefit of this home equity lending option is that you will pay interest only on the funds that you use.

If you don't use the funds, you don't pay interest. It's that simple.


HELOC Highlights

Is a Home Equity Line of Credit through Bank of Internet USA the right option for you? A HELOC offers:

  • Easy and immediate access to the funds you borrow against the equity in your home
  • The freedom to use your funds however you wish, whenever you wish
  • Competitive HELOC rates, with discounts available
  • Interest payments only on the funds that you actually use
  • Emergency money that will be there if unexpected expenses arise

Call 1.888.546.2634 to speak to a knowledgeable Mortgage Consultant who will create a Home Equity Line of Credit package that is just right for you.

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Banking Relationship Discount

You may be eligible to reduce your APR by 0.25% if you with automatic payments, or use your with automatic payments.

What Is a Home Equity Line of Credit?

A Home Equity Line of Credit is a line of credit that uses the equity you have in your home as collateral. You are provided access to these funds to use at your discretion. Since you will pay interest only on the funds you use at the time that you use them, the interest rate on your HELOC will depend on when you withdraw funds from the account. Many homeowners choose to use their Home Equity Line Of Credit (HELOC) for major expenses such as education, medical bills, and home improvements, as well as for .

Flexible Payment Options and Ongoing Access to Funds

A HELOC offers flexible payment options and access to funds whenever you need them. You will be issued a Bank of Internet USA HELOC debit card, which will allow you to make multiple purchases or handle multiple expenses. A HELOC is ideal in helping you to prepare for situations in which you know you will need money, but don’t know exactly how much you will need or when you will need it.

Why Get a Home Equity Line of Credit?

  • You can access your variable-rate Home Equity Line of Credit during the draw period, and you will pay interest only on the funds you use1.
  • You can pay down your line of credit by making additional principal payments at any time without penalty as long as your account remains open.

Which Bank of Internet USA home equity product is right for you?

Benefits of a HELOC from Bank of Internet USA

  • Bank of Internet USA will pay up to $750 towards your closing costs.
  • We will waive the annual fee for the first year.
  • You will have simple access to your funds.
  • Our interest rates are highly competitive, and our exclusive Banking Relationship Discount makes our rates even more attractive.
  • Any interest you pay may be tax deductible2.