Unlock the equity in your home.
Have equity in your home? Need funds for home renovations, debt consolidation or even to prepare for unexpected expenses? A home equity line of credit from First Federal Savings Bank may be just what you're looking for!
Home Equity FAQs
A HELOC (home equity line of credit) is a revolving line of credit, much like a credit card. In the case of a HELOC you are borrowing against the available equity in your home and your house is used as collateral for the line of credit. You can borrow as much as you need, at any time you need it, up to an approved limit. As you repay your outstanding balance, the amount of available credit is replenished.
Typically to qualify for a home equity line of credit, you need to have available equity in your home, meaning that you owe less on your home than it is worth. Our lending team will also review your credit score and other information similar to when you applied for your mortgage.
Reach out to one of our mortgage lenders today and they can discuss your options with you!