HOME EQUITY LINE OF CREDIT
Do more than just live in your home. Hello, HELOC.
FDIC-Insured—Backed by the full faith and credit of the U.S. Government
Let’s put your home equity to work for you.
Major renovations or minor repairs. College financing or consolidating debt. Unexpected expenses or emergency reserve. Tap into your home equity for planned or unplanned needs.
COMPETITIVE HELOC RATES
Using your home equity as collateral
REVOLVING CREDIT
That we replenish as you repay principal
FLEXIBLE TERMS
From short-term to one-time needs
APPLY ONCE
And pay interest* only on the funds you draw
AUTO PAYMENTS
With monthly account deductions you set
LOCAL DECISIONS
And processing from friendly, helpful lenders
How do HELOCs work?
A home equity line of credit is revolving credit that uses your home equity as collateral. You apply once, tap into your line as needed and pay interest only on the funds you draw.* Once you’re approved, we set a credit limit based on your needs and credit history.
REVOLVING CREDIT, EASY ACCESS
As you repay the principal, more funds become available for use. Access funds via mail, in person, online or phone transfers to your F&M checking account online. Simplify your money management by setting up automatic payments.
- Flexible repayment terms
- Funds available anytime without reapplying
- Revolving credit
- Uses your home equity as collateral
- Automatic payments available
- Local decision-making and processing
*Interest may be tax-deductible.
Frequently Asked Questions
*Interest may be tax-deductible. Please consult your tax advisor.
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