C-B-W offers a HOME EQUITY LINE OF CREDIT loan. A HOME EQUITY LINE OF CREDIT is a convenient way to borrow and can be a sophisticated financial tool at your disposal. It allows you to borrow money using the equity in your house as collateral.
Once your credit line has been established, you may draw on it as you need it by using special checks given to you when your line of credit is approved. You can then use the funds to make home improvements, purchase a vehicle, pay off high interest debts, pay education expenses, or some other purpose of your choice. It gives you peace of mind in knowing that funds are available if you need them, simply by writing a check. The interest you pay may be tax-deductible. C-B-W finances up to 80% of the fair market value of the property for qualifying members.
C-B-W's HOME EQUITY LINE OF CREDIT loan is a variable interest rate loan with the interest rate adjusted semi-annually, March 1 and September 1.
We have a 5 year draw period and the repayment term is based on the amount of your credit line.
Check out our current interest rate with a simple click of your mouse.
Give us a call for more detailed information and a estimate on charges associated with the loan.
