A home equity line of credit offers extra flexibility. Once you establish your line of credit, simply write a check or transfer online to access the money as you need it. This type of loan allows you to:
- Access your money as needed or use it all at once
- Borrow up to 90% of your home's value
- Visa® Equity Access Card for fast access to your funds
- Write checks directly from your home equity line of credit
- Receive 15 free checks with the ability to reorder more
- Borrow at a lower rate than most unsecured consumer loans
- Make payments via automatic transfer, Touch Tone Teller, Internet Teller, the mail, the Call Center, or any branch location
- Pay off the loan early without penalty
- No inactivity fee
- No annual fee
*Annual Percentage Rate (APR) accurate as of 2/1/14, applies to line amounts of $75,000 or more, is subject to change without notice, and applies to a loan-to-value (LTV) ratio up to 80% for primary residence and up to 80% for second homes. Introductory rate will be in effect for six (6) months from the credit line open date. APRs reflect a 0.25% discount for loan payment via automatic funds transfer from a TruMark Financial checking account. Otherwise, APR is 0.25% higher. After the introductory discount period expires, the variable Annual Percentage Rate is effective. Annual Percentage Rate(s) (APR) may vary depending on creditworthiness. Rate shown is based on the highest The Wall Street Journal published prime rate and is adjusted on a monthly basis. Rates are subject to change, increasing when the prime rate increases, decreasing when the prime rate decreases. Maximum APR is 18%, minimum APR is 2.99%.The minimum monthly payment is $50. The combined loan-to-value ratio is the sum of the balance outstanding on your first mortgage, if any, and the amount of your new home equity credit line divided by the fair market value of your home. Member is subject to verification of income, creditworthiness, and must carry adequate property and flood hazard insurance (if required) on home securing loan. Loans over $300,000 require title insurance. Property must have a clean title and adequate appraisal. Other rates are available.
To learn more about our home equity lines of credit, contact us or visit a TruMark Financial branch: Center City Philadelphia, Eastern North Philadelphia, Jenkintown, Levittown, North Wales, Northeast Philadelphia, South Philadelphia, Parkwood, Richboro, Springfield (Delaware County), Trevose, Trooper, Upper Darby, Warrington, Wayne.