Home Equity Lines Of Credit
Northern Bank’s Home Equity Line of Credit (HELOC) program allows you to borrow funds, as you need them, against the equity you have in your home. Used responsibly, HELOCs can be a useful financial tool for major expenses like home remodeling, consolidating debt, financing college, and more. Start your HELOC with a Northern Bank mortgage lender today
What to know before you apply for a HELOC
Here is what you can expect with a Northern Bank Home Equity Line of Credit:
- Flexible access to your funds: Unlike a traditional mortgage, with a HELOC, you choose when to draw cash from your line of credit. You can access your line by writing a check, at a Northern Bank branch or via a web or mobile transfer. You only pay interest on the funds that you have withdrawn – not your total approved line.
- Competitive Rates: Northern Bank’s competitive HELOC rates help keep more money in your pocket.
- Savings on Fees, Closing Costs & Taxes: Our home loan experts work to close your loan quickly, with minimal hassle and fees. With a HELOC, the interest that you pay may even be tax-deductible. Consult your tax advisor.