Loan Comparisons

Home Equity Lines of Credit

Home Equity Loans

• Borrow as needed. Pay interest on the outstanding amount only.
• Interest rate is variable
• Flexible payment terms. Can pay the line off any time. No pre-payment charges.
• Access credit line by using checks as many times as you like during the access period up to your credit limit.

• Lump sum amount.
• Interest rate is fixed for the life of the loan.
• Fixed payment every month which includes principal and interest.
• Can choose payback period from flexible maturity terms.

• Best for those customers who have both a current need and would like to have the flexibilty of a line of credit for future uses.

• Generally for more conservative customers who want to know exactly what their monthly obligation is, and have current borrowing needs but do not foresee future ones.