Home Federal Bank Personal Loans
All calculators on this website are for informational purposes only and are not intended to provide financial or investment advice. All examples are hypothetical and for illustrative purposes only. We do not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personal advice from a qualified professional regarding any personal finance issue.
Home Equity Line of Credit
Life is filled with opportunities and challenges, from home improvements to dream vacations to college tuition! Make the best of them with Home Federal Bank's Home Equity Line of Credit.
A Home Equity Line of Credit loan from Home Federal Bank in Shreveport and Bossier City gives you a revolving credit line, similar to that of a credit card. Using your home as collateral, you can write yourself a vacation loan, home remodeling loan or a loan for whatever your special needs may be.
With great rates and interest that may be tax deductible, using a Home Equity Line of Credit is a better way to afford everything. You can borrow as little as $10,000 or as much as 89% of your home's lendable equity.†
Other benefits include:
You can access the funds at your own convenience through:
Contact us today to apply!
*APR - Annual Percentage Rate will vary daily based on the Prime Rate published daily in the Money Rates section of the Wall Street Journal (WSJ). Rate will not change during the first 30 days. After 30 days, the APR will vary daily based on the published WSJ Prime Rate (as of 10-24-12, prime rate was 3.25%) and is subject to change. NOT E: Your APR will never be lower than the Home Equity Line of Credit (HELOC) floor rate of 4.25%. Your APR will never be higher than 21.00% or the maximum rate allowed by applicable law. Your APR may be higher than the advertised rate based on the lendable equity value of your 1-4 family, owner-occupied dwelling, your credit history, and other factors. This offer is valid for new HELOCs and does not apply to existing HFB HELOCs nor to any HELOC closed in conjunction with a first mortgage product. For this offer, the minimum line amount is $10,000 and a maximum line amount is $50,000. Property insurance is required and flood insurance required where necessary. HELOC is a revolving line of credit with a five (5) year term during which time you are allowed to make multiple advances of amounts equal to or less than your HELOC credit limit. Over-limit fees and stop-payment fees do apply. In addition, interest only payments will be due on the 15th of each month of the term, except for a final balloon payment, equal to principal, accrued interest, and any unpaid fees, due on the maturity date. Your total indebtedness (HELOC amount plus any other outstanding mortgage loans) cannot exceed 89.99% of the fair market value of your home. There are no closing costs or fees required to open a HELOC of $50,000.00 or less. All HELOCs are subject to a $50.00 Annual Fee, except during the first contract year. If a HELOC is closed within 3 years of the contract date, you will be charged a $300 early closure fee to reimburse us the costs we incurred to establish the line. Other potential fees include a $30.00, Returned Item Fee, $30.00, Stop Payment Fee, $50.00 Over Limit Fee, and $15.00 Late Payment Fee. Other conditions and restrictions may apply. Consult your tax advisor regarding the deductibility of interest. Offer is subject to credit approval. Offer subject to change at Home Federal Bank's discretion.
†Lendable Equity: The amount represented by the current, appraised value of your home minus any existing debt secured by your home.