Home Equity Line of Credit

Home Equity Line OCredit (HELOC) is a line of credit that uses the equity you have in your home as collateral. The amount of credit available to you is dependent on the equity in your home. Because HELOCs are secured by a real estate asset, they tend to have higher credit limits and much better interest rates than credit cards or personal loans. While HELOCs usually have variable interest rates, there are some fixed-rate options available. Other features of a HELOC Include:

  • Payments are interest only, and will fluctuate in amount depending on the balance.
  • The line of credit is revolving.  Revolving means that you can borrow the balance up, and pay the balance down at-will within the limits of the loan agreement.
  • It is possible and quite common for customers to have both a mortgage and a HELOC secured by the same piece of real estate.
  • If you default on a HELOC, the mortgage agreement gives the lender the right to take back the property.

How can I access my Community Bank Home Equity Line of Credit?

  1. We can provide you with Home Equity Line of Credit checks
  2. You can use your Community Bank Mobile App to transfer money to your Community Bank checking account
  3. You can use the Community Bank Online Banking to transfer money to your Community Bank checking account
  4. You can request a check from your Loan Officer at Community Bank
  5. You can tie the Home Equity Line of Credit to your checking account.  Once this is setup you can intentionally overdraw your checking account and the funds will automatically transfer from your Home Equity Line of Credit to your Checking Account.  Please note that you must have available funds in your Home Equity Line of Credit for this to work.


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