FLEX
Home Equity Line Of Credit

If you already own a home, you can use your home’s equity to remodel, take a vacation or consolidate higher interest forms of debt. As an added benefit, the interest you pay may be tax deductible!*

New MULTIPLE LOCK Feature
This new feature adds even more flexibility! Once your line is established, you can choose to advance up to 3 portions of your Flex HELOC with a locked rate, term, and payment. Plus -- you still have the option to make variable rate advances as long as you have available credit. For example:

* This line of credit features fixed and variable rate options.  Excluding fixed portions, the variable rate feature can change quarterly on January 1, April 1, July 1, and October 1 (change date).  To determine the new rate, we take the highest Prime Rate (index) published in the Wall Street Journal 10 days prior to the change date and apply the predetermined margin.  The margin is determined by your credit score and loan to value of your property at the time the line of credit is opened.  Min. rate is 4.5% APR.  Max. rate is 15% APR .  Interest only payments will result in a balloon payment at the end of a 15 year term.  Fixed rate advances have a term not to exceed 84 months or 15 years from the original opening date of the line of credit, whichever is less.  The fixed rate is determined by taking the current prime rate plus or minus the margin determined at the time the line of credit is opened.  Financing is available up to 100% of the value of your home less your first mortgage balance.  Available in KY, IN, AL, and GA.  Owner occupied properties only.  Your final interest rate is determined by your credit score and loan to value of your property.