Home Equity Line of Credit
Tap into your home's equity for all of your needs
Take on everything from a home remodel to debt consolidation and more
A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans like credit cards.
A HELOC often has a lower interest rate than some other common types of loans, and the interest may be tax deductible. (Please consult your tax advisor regarding interest deductibility as tax rules change periodically).
With a HELOC you’re borrowing against the available equity in your home and the house is used as collateral for the line of credit. As you repay your outstanding balance, the amount of available credit is replenished – much like a credit card. This means you can borrow against it again if you need to, and you can borrow as little or as much as you need throughout your draw period.
Please contact your personal banker at Sunnyside Federal to discuss the best options available to you.
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