• Dream Big, Borrow Smart

    Home Equity Line of Credit Special Rate as low as:

    6.75% APR* Fixed rate for the first 12 months

    1.25% Below normal pricing

    8.00% APR* Variable rate thereafter

    Prime rate minus 0.50%

    Get Started

Act now to take advantage of low, limited-time promotional rates on a new or renewing home equity line of credit — a smart way to borrow for whatever’s ahead.

Consult your tax advisor about tax-deductible interest.

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What is a Home Equity Loan?

What is a Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit (HELOC) is a flexible borrowing option secured by your home, providing you with a revolving credit line for significant expenses or to consolidate high-interest debts from sources like credit cards. With potentially lower interest rates compared to other loans, HELOCs offer the added benefit of potential tax deductibility on the interest paid.

How to access your HELOC funds with a checking account

Accessing your line of credit is simple; you can either request funds to be transferred from your line to your checking account, conveniently manage transfers online through our banking platform, or utilize the HELOC checkbook provided.

How a HELOC works

A HELOC utilizes the equity in your home as collateral, allowing you to borrow against it. Similar to a credit card, as you repay your balance, your available credit is replenished. This flexibility enables you to borrow as needed, within your established credit limit, throughout the draw period, typically spanning 10 years. Following the draw period, the repayment phase, usually 10 years, commences.

Qualifying for a HELOC

To be eligible for a HELOC, you must have available equity in your home, indicating that the value of your home exceeds the amount you owe on it. Additionally, lenders typically assess factors such as your credit score and history, employment record, monthly income, and debts, similar to when you initially obtained your mortgage.

What can a Home Equity Loan be used for:

Home Improvements Large Purchases Wedding Expenses Debt Consolidation

*An introductory rate discount of 1.25% will be effective for 12 months beginning from the date of the loan.  For the first 12 months, the fixed APR may be as low as 6.75% APR or as high as 9.25% APR.  After the introductory period ends, variable APR during the remainder of the draw period may be as low as 8.00% APR (Prime – 0.50%).  Rate offer is available on new home equity lines of credit or renewing home equity lines of credit with limit increases of at least $10,000.  APRs are accurate as of March 15, 2024.  The APR is a variable rate.  Offer available with any new or existing Highland Bank checking account and requires automatic payments, minimum loan amount of $10,000.  Rate, maximum loan amount and loan-to-value (LTV) limits dependent upon borrower qualifications and property value.  Minimum and maximum APR that can apply during plan is 3.99% and 18.00% respectively.  240-month term, 120-month draw period and 120-month repayment period. Interest only payments during draw period.   Appraisal required only when loan amount is greater than $250,000.  Lender Credit of $500.00, borrower pays all other fees.  Early termination fee of the lessor of 1.00% or $500.00 will be assessed if the loan is terminated within 12 months after closing.  Property insurance required. Flood insurance may be required.  Offer subject to credit approval. Offer expires May 15, 2024.