Interest Only HELOC
Your house is more than just a home – it’s a financial investment. Sometimes, it helps to leverage the equity in your home to help accomplish other important goals!
Inspire FCU interest only home equity line of credit is designed to help you reach even the most challenging goals, at a low rate with great payment flexibility. You’ll have access to the revolving cash, while making the lowest possible monthly payment! Your monthly payment is calculated as the monthly interest expense on the loan.
Features & Benefits
Secondary education expenses
- Debt consolidation
- Small business start-up expenses
- 10 year draw period with monthly interest only payments, followed by a 15 year repayment (25 year total term)
- Borrow up to $500,000
Please visit our rates page for full disclosure and account terms and conditions.
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*LTV = Loan-to-Value Rates, terms and loan-to-value (LTV) options vary based on applicant's credit worthiness. Loan may not exceed 100% loan-to-value based on appraised value of residence. Inspire FCU is not responsible for any subordination fees charged by other lenders when refinancing. All applications subject to approval. The product is a variable rate home equity line of credit and is secured by your primary residence.