Home Equity Line of Credit
Ready Cash Using Your Home's Equity—Great, Low 2.75% APR*
*Variable rates as of July 1, 2014 and subject to change quarterly. Available in all states except Texas. Other restrictions may apply. The 2.75% rate is for up to 80% Loan-To-Value line of credit. .
With a rate of prime minus .50%, a home equity line of credit gives you a credit line from $5,000 to $312,700 when the credit limit does not exceed 80% of the equity in your home. A credit line greater than 80% of your home's equity is available up to $250,000 at a rate of prime plus 1%.
More ways to save with a Tower home equity line of credit:
- No points
- No origination fees
- Tower pays your closing costs as long as you retain the loan for 24 months or more
- Interest accrues only on the amount you use
- Interest paid is typically 100% tax deductible—check with a tax advisor
- FREE, unlimited supply of checks
- No restrictions on the number of checks you write
- No minimum check amount required
Track transactions, transfer funds, and reorder checks through Home Banking. A Tower home equity line of credit is available in the District of Columbia and all states except Texas.
Make your loan payments:
- Set up automatic payments
- Use Home Banking to transfer payments online from a deposit account.
- Pay by phone using Tower Talk 24
- Mail your payments to Tower
- Make payments at any Tower branch
Variable rates subject to change quarterly. Maximum APR is 18%. Available in all states except Texas. Other restrictions may apply.