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Turn your home equity into joy equity

A home equity line of credit can be a great way to get what you want from what you already have

How does a home equity line of credit work?
A home equity line of credit (or HELOC) lets you borrow against the equity you've built up in your home, up to a fixed credit line. For the first 15 years, you can borrow and optionally repay, over and over again. After 15 years, any balance outstanding converts to an amortizing loan that gets repaid monthly over the next 15 years. 

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Ready to apply for a home equity line of credit?

Click on the button below to create your account and start the application process. 

Not ready yet?
Here are some details:

Features and Benefits:

  • The process is quick and easy with many HELOCs closing in as little as three weeks
  • Introductory Rate of 5.99% with an Annual Percentage Rate ("APR") of 6.073% for the first year*
    • For example: the current Prime Rate in effect could be 8.50% with an APR of 8.618% and would be subject to change monthly
  • In years two through thirty, the HELOC will have a Variable Annual Percentage Rate based on The Wall Street Journal Prime Rate (“Prime”) published on the first business day of the month. Maximum APR is 18%. Minimum APR is 3.25%. No prepayment penalties 
  • Pay only interest during the first fifteen years, if you like
  • Home Equity Fees generally range between $500-$1,500
  • You can borrow money for 15 years, up to a certain credit limit, then take up to 15 years to repay
  • Access your line of credit by writing a check or making an online transfer to a BS&L Local Rewards Checking Account or another BS&L deposit account

Am I eligible?
To qualify for a home equity line of credit, you need to have available equity in your home. You can typically borrow up to 70% of the current value of your home minus any other debt you have on the home. Then we consider your credit score and history, employment, monthly income and other debts, before we approve your loan.

Still have questions?

If you still have questions, contact a mortgage officer or call us at (802) 275-3979

Meet our mortgage team

Let us be your ally in figuring out what you'll need to get the right loan for you. We'll be with you every step of the way to guide you through the process of choosing and getting the exact loan to meet your needs.
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Linda Hescock

Mortgage Officer
NMLS #1536097


Photo of Mia DeAngelis

Senior Vice President
Residential Lending
NMLS# 487902



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