What is a home equity loan?
"Equity" is the difference between your property's appraised value and the amount that's still owed on it. A home equity loan or line of credit allows you to borrow money, using your home's equity as collateral.
You can use the equity in your home to turn your dreams into reality. Whether it's a personal investment, new car purchase, educational opportunity, vacation, or home improvements, a home equity loan or personal line of credit may be the perfect option for you. The interest you pay may also be tax-deductible.
Types of home equity loans
Heritage Bank offers two different types of home equity loans: