Home Equity Loans & Lines
Access the Equity in Your Home
Bank of Canton’s home equity loans and lines of credit (HELOCs) provide homeowners with convenient access to credit. Home equity funds can be used for any purpose, including home improvements, education expenses, and consolidating higher-rate debt.
Home Equity Options
We offer both home equity loans and lines of credit:
- Home equity line of credit
Our home equity lines of credit provide borrowers with ongoing access to funds. HELOCs have a variable interest rate based on the prime rate – so when the prime rate changes, your rate and monthly payment also change.
- Home equity loan
Our home equity loans offer a one-time, lump-sum payout, and a fixed interest rate and monthly payment. Terms range from 5 to 20 years.
You can compare our home equity loans and lines to see which financing option best suits your needs. There are no fees or closing costs with either option, and the interest you pay may be tax deductible (please consult your tax advisor). Our simple application and fast turnaround mean you can receive your funds quickly, in the manner of your choosing.
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