Home Equity Line of Credit

If you need financing to finish your basement, consolidate credit card debt or buy a new car, a Home Equity Line of Credit from Mountain America might be right for you.

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A Home Equity Line of Credit—Think Outside the Home

First, a quick explanation: A HELOC, as it’s been nicknamed, is a line of revolving credit that uses the available equity in your home. You’ve earned that equity, thanks to hard work and time—don’t forget you can use it, if necessary.

And here’s a good piece of news—interest rates on a home equity credit line are typically lower than a standard credit card.

In other words, it’s another useful tool to eliminate credit card debt, remodel the kitchen, buy a car or relieve other financial obligations. Many HELOC customers use it for:
  • Debt consolidation
  • Educational costs
  • Medical expenses
  • Start-up business expenditures
  • Vehicle purchases
  • Home renovations

Some key facts about a HELOC:

A HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit, just by using your Mountain America Equity Visa® Card. There is no need to reapply. Plus, unlike almost any other type of consumer loan, the interest on a home equity loan may be tax deductible.

Why choose a Mountain America home equity line of credit?

For a lot of good reasons, including these:
  • Rates as low as 2.49% APR (Normally 4.00%)
  • Interest-only options
  • Up to 90% LTV combined financing
  • No origination fees or closing costs options*
  • No annual maintenance fees
  • Potential tax advantages**
  • Access via Equity Visa Card or check
  • Borrow, repay and borrow again without reapplying 

Should I consolidate my debt with a HELOC?

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! 

Find out more about our various home equity options. Apply online or call 1-800-748-4302.


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Three easy ways to apply:

* No fees for loan amounts under $250,000.  Minimum loan amount $8,000.
** Consult your tax advisor.
*** Annual Percentage Yield. For new equity loans only. After six months, the introductory rate will convert to a variable annual percentage rate of prime plus (prime is determined by the Federal Reserve). Maximum interest rate over the life loan is 18%. Minimum interest rate over the lfe is 4%. Some restrictions may apply. Limited time offer. Membership required - based on elegibility.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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