Home Equity Loans and HELOCs

Are You A Homeowner in the Philadelphia Area?

Your Home May Help Fund What's Next

If you are a homeowner in the Philadelphia area and in need of financing for a major purchase such as a home renovation, education expenses, or simplifying your finances, you're invited to apply for one of our Home Equity products. Both the Home Equity Loan and Home Equity Line of Credit allow you to tap into the equity of your home and borrow against its value.

Home Equity Loan

A Home Equity Loan provides funds in a one-time lump sum with a fixed interest rate and predictable monthly payments over a set term.

Features of a Home Equity Loan:

• Paid to you in a one-time lump sum disbursement.


• Fixed Interest Rate


• Fixed monthly payments

Home Equity financing is subject to approval. Certain restrictions apply. Contact your tax advisor regarding tax deductibility.

Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit (HELOC) allows you to draw funds as you need them during a draw period, with a variable interest rate. During the draw period, you generally pay interest only on the amount you borrow. Repayment terms may change after the draw period ends.

• Competitive Rates: Rates are variable and subject to change.


• Generous Loan-to-Value (LTV) Ratio: Borrow up to 75% of your home’s market value, minus any existing mortgage or liens.


• Flexible Access to Funds: No minimum balance transfer requirement—borrow only what you need, when you need it.


• Convenient Draw and Repayment Terms: Draw and repayment terms vary during and after the draw period.


• Eligible Properties:Available for primary residences only (not listed for sale.)


• Potential Tax Benefits: Interest may be tax-deductible—consult your tax advisor to see if you qualify.


• Transparent Fees
  
  • Annual non-use fee of $75 may apply if the account remains inactive (waived first year)
  • Early termination fee of $350 if paid off or refinanced within 24 months
  • Processing fees may apply (range: $0–$350, paid outside of closing)
  • Additional fees may apply. Talk to our loan officers for details and required disclosures.

Important Information

Home equity financing is subject to credit approval. Certain restrictions apply. Rates and terms vary by product and are subject to change. Payments may increase or decrease for variable-rate products. Interest deductibility depends on how loan proceeds are used. Consult your tax advisor for guidance. Required disclosures are provided at application.

Learn more on HELOCs, how they work, and what they can be used for.

Contact our Loan Department at (215) 634-4621.

• HELOC Disclosure: What You Should Know About Home Equity Lines of Credit

• You can also review the Early Disclosure for the Home Equity Line of Credit Application here.

• Download the Home Equity Line of Credit application here.