Home Equity Loans & Lines of Credit
Home Equity Loans
Put the equity in your home to work! With a Huntington Federal Home Equity Loan, you can borrow a fixed amount of money over a fixed amount of time with a low, fixed interest rate. Home equity loans are a great solution when you need to make a big purchase, or if you need to convert a high interest rate debt obligation to a more affordable monthly payment.
Home Equity Line of Credit
A Home Equity Line of Credit is a line of revolving credit in which your home serves as collateral. Your credit amount is based on the amount of equity you have in your home, your ability to repay and other qualifying factors. You can borrow or draw on the line of credit for a period of time, typically up to ten years. Your home equity credit line can be used for anything. Since your home is likely your most valuable asset, most people use a home equity line of credit for major projects that may require multiple purchases over time. Examples include home renovation, purchases associated with a child’s wedding, tuition expenses, etc.
How You Can Use Your Home Equity Loan or Line
- Home Improvements
- Tuition Expenses
- Auto / RV / Boat Purchases
- Dream Vacations
- Medical Bills
- Pay off high interest rate credit cards
- Consolidate debt
All Huntington Federal lending products are subject to credit review and approval.