When you have large expenses and projects in mind, turn to our HELOC.
Whether you’re looking to consolidate your debt, begin a home improvement or renovation project, finance a major expense, or take a dream vacation, a Home Equity Line of Credit from BankFive can help. Using the equity in your Massachusetts or Rhode Island home can be a great way to get the funds you need to turn your dreams into realities.
Financial flexibility for your project:
- Funds available as a revolving credit line, similar to a credit card
- Draw on the funds for up to 15 years
- Interest is potentially tax-deductible (consult your tax advisor)
- Pay interest only on the funds you use
- Ideal for large expenses or to consolidate debt at a lower interest rate
- Amount of equity available is based on a house appraisal