Home Equity Loans and HELOCs

Are You A Homeowner in the Philadelphia Area?

Your Home Could 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

Features of a Home Equity Loan:

• Paid to you in a one-time lump sum.


• 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)

The Home Equity Line of Credit works more like a credit card, allowing you to draw funds as you need them and repay the money at a variable interest rate. You only pay interest on the money you use.

• Competitive Low Rates


• 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 period: First 10 years
  • Repayment period: Next 20 years
  
  
• 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)
  
  

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

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  Learn more on HELOCs, HELOCs vs. Home Equity Loans, and possible uses for each.

   

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  Contact our Loan Department at (215) 634-4621 to talk about how a Home Equity Loan or Home Equity Line of Credit could be beneficial to you.

  
  Download the Home Equity Loan or Home Equity Line of Credit application here.

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