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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%.
Here are more ways to save with a Tower
home equity line of credit:
- No points
- No origination fees
- Tower will pay 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
You can also track transactions, transfer
funds, reorder checks, and view your
cancelled checks through Home Banking.
A Tower home equity line of credit is available in the District of
Columbia and all states except Texas.
Adjustable rate loans are subject to change.
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