Your Home Equity Can Take You Further.
As a homeowner you already hold a powerful tool: your home equity. A home equity loan gives you a lump sum up front with predictable payments. A HELOC works more like a line of credit that is available when you need it. We're here locally to help you decide what fits your goals.
Why choose a Meritrust Home Equity Loans?
Big financial decisions are easier with the right support. We're right here to help you explore your options. Our Home Equity Loans have flexible terms and low fixed rates. You can use the funds for anything you want: home improvement, debt consolidation, vacation, college tuition – it's up to you. Whatever your needs, our Home Equity Loans will provide you the cash. You'll enjoy low rates, interest is usually tax-deductible* and your loan will stay with Meritrust. Find out more about our Home Equity Loans below.
Home Equity Loan
Need a set amount with a fixed expense? A home equity loan gives you a one-time lump sum with a fixed rate and predictable monthly payments, great for planned projects like home renovations or consolidating debt.
Here's what you can expect from a home equity loan:
- One-time Lump Sum
- Fixed Interest Rate
- Predictable Monthly Payments
- Set Repayment Term
- Good for Large Planned Expenses
- Know How Much You’re Borrowing Up Front
Primeline Home Equity Line of Credit (HELOC)
Want more flexibility in how and when you borrow? Maybe you need to fund your kitchen remodel or handle unexpected costs over several months. A HELOC works like a line of credit, allowing you to borrow from available credit as needed rather than receiving one sump sum upfront for ongoing access and flexibility.
Here's what you can expect from a Primeline HELOC:
- Access Funds as Needed
- Variable Interest Rate
- Monthly Interest Only Payments Can Vary Based on Rate and Balance
- Borrow, Repay and Borrow Again During the “Draw” Period
- Good for Ongoing or Changing Expenses
- Use Only What You Need, When You Need It
- 10-year Draw Period with Interest-only Payments During the Draw Period
- 10-year Amortized Repayment Period Following the Draw Minimum Credit Limit
- $10,000 Maximum Credit Limit: $350,000 Up To 90% Combined Loan-to-value (CLTV)
