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A BUNDLE OF MONEY, ALL AT ONCE
Home Equity Loan
Get a lump sum of money all at once to pay for just about anything—a car, a boat, education, boat, pergola, boat. Yes, you can probably get that boat.
As opposed to a traditional loan, a home equity loan lets you borrow against the value of your home, just like a mortgage.
USE WHAT YOU NEED, AS YOU NEED IT
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Home Equity Line of Credit (HELOC)
Take advantage of a line of credit that is based on your home’s value. You are able to draw from it, pay it back, and continue to use it over time.
- Access the equity in your home simply by making a phone call to Deerwood Bank, or accessing your online banking
- Once your line of credit is in place, you can borrow from it, time and time again
- Interest may be tax-deductible, so consult with your tax advisor for possible tax advantages.
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