As you gear up for the holidays, do you find yourself dreaming about a formal dining room that could fit your entire extended family without folding chairs? Does a larger kitchen cross your mind as you are scheduling time to make side dishes the week before a party?  When you go downstairs, do you imagine the perfect finished basement for your in-laws to sleep in instead of your bed?  If this sounds familiar, a Home Equity Line of Credit (HELOC) may be the solution for you!

What exactly is a HELOC?

A HELOC gives you the power of your home’s equity at your fingertips! Equity is the value of your home minus any debts (such as your mortgage). That equity can be paid out to you as a loan or line of credit to use however you see fit! Advia’s HELOC allows you the ability to borrow against the equity in your home at low, competitive interest rates.

What can I use a HELOC for?

Whatever you’d like! You can make home renovations so you are more comfortable in your home; for instance, by building a larger kitchen, finished basement, or man cave. You can use the funds to pay off credit cards, student loans, or even car loans. 

What are some of the features?

  • Easy access to funds within Digital Banking or by check
  • Loan Amounts from $10,000 – $150,000
  • Accessible for a 10-20 year draw period
  • 10 year amortized repayment begins at the end of draw period
  • First and second lien position only

Advia is currently offering:

  • For a limited time, $0 closing costs!
  • Interest rates as low as 0.50% below Prime Rate*
  • 24/7 access with Digital Banking transfers
  • No annual fees or pre-payment penalties
  • Tax deductible interest (consult tax advisor)
  • Easy online application – 24/7

How can I apply?

Apply online or apply by calling 844.ADVIA.CU (844.238.4228). You’ll need a copy of the following:
  1. Your most recent tax assessment notice
  2. First mortgage statement
  3. Most recent pay stub showing year-to-date income
  4. W-2 statements for the last two years
  5. Homeowner’s insurance policy declaration page

Applying is easy, so go ahead and call the contractor. It’s time to plan for that jacuzzi tub and walk-in closet that you have been dreaming of!