home equity 
 Use the equity in your home

Home Equity Loans

Whether you need money for a remodeling project, a vacation, or to pay off credit cards, borrowing against the equity in your home can provide the funds you need.

We offer two types of home equity products:
  • A HELOC is a revolving line of credit. As you make payments on the funds you've used, your line of credit available will automatically be restored to your original approved limit.
  • A home equity loan has a fixed payment schedule with a fixed loan term.

 

Benefits of a CoVantage HELOC or Loan

  • No transaction charge and no hidden fees
  • No teaser rates
  • No prepayment penalty
  • First mortgage doesn’t need to be at CoVantage
  • Borrow up to 100% of the current appraised value of your home, less the balance on your first mortgage
  • Transfer funds from your HELOC to your CoVantage checking using CoVantage Online or Mobile
  • Interest may be tax deductible; consult your tax advisor