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Home Equity Line of Credit (HELOC)

Home Equity Lines of Credit, also known as HELOCs, are loans that are secured by your primary residence, and they offer a revolving line of credit to meet your borrowing needs. For example, if you’re planning on a home renovation, you can borrow new funds for each step of your project, rather than as a single lump sum. Schedule an appointment with a loan officer today to get started.

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Benefits of Choosing Us

Our Home Equity Line of Credit comes with special benefits and flexibility. Choose SouthEast Bank and enjoy:

10-year draw period

Interest-only monthly payments

Up to 80% Loan-to-Value (LTV)

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Benefits of a Home Equity Line of Credit

Lower Interest Rates
HELOCs tend to offer lower interest rates when compared to credit cards, making them useful for ongoing projects.

Tax Deductions
The IRS allows interest payments on HELOCs to be tax-deductible if you use the money for home improvements (consult a tax advisor regarding the deductibility of interest).

Borrow What You Need
Unlike home equity loans and personal loans that disburse in a lump sum, you can use HELOC funds as you go.

Flexible Repayment
HELOCs often provide flexibility in terms of how you pay them off.

Applying for a HELOC: What You’ll Need

When you’re ready to apply for a HELOC, contact your local lender. They’ll be glad to answer any questions you may have, then they’ll send you a convenient, secure link to upload the following files as applicable. You may be required to submit additional documentation.

Loan application (to be provided by your lender)

Personal tax returns for prior two years

Current pay stubs for all borrowers

Copy of driver’s license for all borrowers

Copy of your homeowners insurance declaration page

Rent roll or debt schedule if your investment portfolio is complex

Meet Your Local Lender

Get ready to meet your local lender by scheduling an appointment today.

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Have Questions?

Have a question or want to know more about our services? Contact us and we’ll be happy to assist you.

SOUTHEAST BANK NMLS ID# 537499

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