A Home Equity Line of Credit (HELOC) is a line of credit against the equity in your home that you can draw on just by writing an equity line check.  HELOCs are available for up to 90% of the value of your home and the interest may be tax deductible.***

Minimum line amount is $10,000.

All loans and lines of credit are subject to credit approval, verification and collateral evaluation.  Property insurance, and flood insurance where applicable, may be required.  Please see a Customer Service Representative for a complete application package.

* This offer is subject to credit approval and is limited to owner-occupied dwellings.  Not valid for rental properties, cooperatives, mobile homes or residential lots.  Introductory 3.99% annual percentage rate for the first 90 days of a new home equity line of credit.  After the introductory period, the interest rate will convert to a variable rate based on credit approval.

** For HELOCs of $100,000 or less, Progress Bank will pay the closing costs.  If you close the line within the first 36 months a prepayment penalty of up to $500 will apply.  There is no annual fee.  

*** Consult your tax advisor concerning interest deductibility.