A Home Equity Line of Credit (HELOC) allows you
to borrow up to 90% of the tax assessed/appraised value
of your home less the first mortgage balance on a revolving
line of credit. The rate and payment are subject to
change monthly. There is no application fee and no appraisal
required on amounts less than $100,000. A HELOC can
be used for any purpose and the interest you pay may
be tax deductible. Consult a tax advisor regarding the deductibility of interest.
