HYBRID HOME EQUITY LINE OF CREDIT
Now you don't have to choose between the flexibility of a Home Equity Line of Credit (HELOC) or the steady payments of a fixed-rate loan. You can have both with our new Hybrid Home Equity Line of Credit (HELOC) option!
How it Works
- Use your Hybrid HELOC as you need it, for anything you need
- You can lock all or a portion of your Hybrid HELOC balance into a fixed-rate for a specified period of time during your draw period1
- You can choose to lock in your interest rate up to five times
- Minimum lock amount is $5,000
Hybrid HELOC Benefits
- Keep payments steady by locking in a fixed-rate
- Easy access to the equity in your home
- No pre-payment penalties
- Potential tax savings2
- Use for recurring home remodeling, major purchases, tuition costs, and any other use
Hybrid HELOC Example: $60,000 Line of Credit
Disclosures
1Hybrid Home Equity Line of Credit (HELOC) allows a member to create up to five (5) fixed loan segments with a minimum of at least $5,000 for each loan segment. Up to 50% of the HELOC limit can be a fixed-rate segment. Fixed terms will be based on the existing rate of the HELOC. The fee structure remains the same as the regular HELOC initial loan application. There is a $25 fee to set-up each segment. For qualified borrowers only. Contact Park View for full details.
2Consult with a tax advisor to determine if you are eligible.
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Home Equity Line of Credit (HELOC)
Similar to a credit card, this low variable rate loan allows you to borrow what you need, as you need it.
Home Equity Loan
Borrow against your home's equity to get cash for whatever you need. Offers flexible terms and low fixed rates.
