Home Equity Line of Credit and Second Mortgages
Home Equity Line of Credit (HELOC)
A HELOC is a revolving line of credit based on the equity in your primary residence. This loan can be secured by a first or second mortgage on your primary residence within the Bay Bank lending area. Here are the highlights of the HELOC program:
- Secured by primary residence
- Automatic payments required from a Bay Bank checking account
- Checks for borrowers to withdraw funds as needed (amounts $500 or more)
- Variable Rate
Contact a Mortgage Lender with any questions or to start the process of a HELOC today!
Bay Bank offers, to eligible borrowers, second mortgages on their primary residence within the Bay Bank lending area. This loan is secured by a primary residence, and subject to the equity in the residence. Whether you are looking for home improvements, consolidate debts, or to purchase a new vehicle this may be the right fit for you! Contact a Mortgage Lender today to ask about the terms and rates on the second mortgages.