Home Equity Line of Credit (HELOC)

Choose Security Federal Bank for a Home Equity Line of Credit and we will pay up to $750 toward closing costs!*

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Why Choose a Home Equity Line of Credit?

    • Competitive rates
    • The existing equity in your home is used as collateral backing
    • Flexible repayment terms that work uniquely for you
    • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
    • Revolving credit – as principal is repaid, more becomes available for use
    • Funds easily available via check, in-branch withdrawal, or online banking transfer
    • The interest paid might be tax deductible**
    • Set up automatic payments to be deducted from your account monthly
    • Local decision-making and processing
    • Friendly, professional service from start to finish

How can I use a Home Equity Line of Credit?

    • Major home improvements
    • Emergency reserve
    • And much more

 

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*Closing costs are typically $700-$1,300, including the appraisal and attorney’s fee. Property insurance and, if applicable, flood insurance are required. Application must be submitted by June 30, 2022, to qualify for the lender credit. Programs are subject to change without notice. Loan approval subject to credit and collateral qualification. Additional limitations may apply.

**Consult a tax advisor.