Home Equity Line of Credit
What is a Home Equity Line of Credit?
A HELOC offers a number of advantages:
- Only borrow what you need
- Borrowing amount is replenished as you make payments
- Terms up to 7 years
- Competitive interest rates compared to other lending products
- Possible tax advantages
Why choose PNB for your HELOC?
Schedule a consultation with one of our home equity specialists and we’ll guide you through the process.
Our Home Equity Loan Specialists
Note: Please do not send personal information (account numbers, credit card numbers, or social security numbers, etc.) via email. Thank you.
Lender may loan up to 80% of the appraised value, including any first mortgage amount.
Examples of Senior liens include such things as first mortgages, outstanding liens for unpaid taxes, outstanding mechanical liens, and recorded judgements on the borrower.
HELOC rate is variable and is repriced on the first business day of the following month.
HELOCs will have a maximum term of 7 years and will require monthly payments of both interest and principal (minimum 1% reduction each month).