Home Equity Lines of Credit
Ongoing Access to Credit at Variable Rates
A Bank of Canton home equity line of credit allows homeowners ongoing access to funds at a low, variable rate. Borrowers can draw on their line as frequently as needed, within their line limit.
- Competitive rates
- No fees or closing costs
- No initial draw required
- Line limits as high as 80% of your property’s appraised value (up to $300,000)
- 0.50% discount available for automatic payments from Bank of Canton account
- Line is available for 10 years, with an additional 10 years to pay off any outstanding balance
- Interest may be tax deductible (consult your tax advisor)
Before applying, compare the benefits of a home equity line of credit to a home equity loan. Your local Bank of Canton branch staff can explain the advantages of each, and help you choose the best financing option to meet your needs.
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