Borrow a little here. Pay back a little there. Repeat.
Yes, the value of your Michigan home helps to qualify your Home Equity Line of Credit loan. But you don't have to spend the cash on home repairs, though it's OK if you do. Instead, you can access the money as often as you wish to give you a little extra buying power when opportunity knocks or a little extra muscle in fending off life's financial challenges.
Here's why you might want to home in on Arbor Financial's HELOC:
- Competitive low, variable rates
- $10,000 to $150,000 credit lines with low monthly payments
- No application fee
- Take advances as often as you need them
- No restrictions on how you spend your funds
- Interest accrues only on funds as they are drawn
- Quick approvals have your funds available in no time
- Manage your credit line online or by phone
- Possible tax advantages (please consult your tax advisor)
Opening a line of credit is a prudent move for home owners with recurring expenses, such as college tuition or long-term home improvement projects. Another smart move is to open an Arbor Financial checking account. You'll get free access to more than 37,000 ATMs throughout Michigan and across the nation, plus fee-free access to eBanking
, Mobile Banking
, Web Bill Pay
, and more. It's easy to open your account online
or switch your account
to become an Arbor Financial member.