The key to your future starts here. A Home Equity Line of Credit (HELOC) lets you borrow up to 90% on your home’s combined loan-to-value to take care of planned and unforeseen expenses. Think of it like a credit card with a revolving line, only with a lower interest rate. Unlike second mortgages, you borrow what you need when you need it, and funds can be used for anything.
When you’ve got flexibility, the possibilities are endless! Many members use HELOCS for:
- Home improvements
- Education tuition
- Life expenses, such as weddings or vacation
- Consolidate high-interest debt at a lower interest rate
- Medical expenses
Interested in Learning More?
Sharonview HomeLine
Our HELOC product is designed to help you do more.
- Get a credit line for up to 90% of your home 's combined loan-to-value, up to $350,000
- Money available when you need it, for 15 years with no annual fees
- Visa Debit Card for you to conveniently pull money when you need it
- Flat origination fee of only $495.
- Variable interest rates as low as 8.50%
Have you lost your HomeLine debit card and need to order a new one? Give us a call at 800.462.4421 today!
- Minimum credit limit is $15,000. Maximum credit limit can go up to $350,000, but cannot exceed 90% of the appraised value of your home. Call us if you need additional options.
- You can continue to make additional purchases with the debit card and borrow up to the maximum credit limit, but you are not required to do so.
- Minimum monthly payment amounts may vary, and are determined by the amount you currently owe on the line of credit.
- The application process is similar to a mortgage, because your home is used as collateral to secure the loan. It may require a home assessment to determine its value.
- Primary Residences only. Vacation Homes and Investment Properties are not eligible.
Before Applying for a HELOC
Please click on each of the important disclosures below prior to applying for a Home Equity Line of Credit.
Home Equity Line Of Credit Important Information
Electronic Communications Disclosure
CFPB - What you should know about home equity lines of credit
After you apply for your home equity line of credit, make sure you have this information available so we can process it:
- Copy of homeowners insurance policy showing the agent's name and telephone number
- Proof of income (a copy of your two most recent paycheck stubs for everyone applying)
- Copy of mortgage, deed, deed of trust, or title insurance
As of June 3rd, 2024, the current APR varies between 8.50% - 10.00%, and is determined by credit score; a minimum 660 credit score is required. The APR is variable and based on prime rate; the maximum APR that could be reached is 18.00%. Appraisal fees of approximately $585-$700 may apply in certain circumstances, ask a Sharonview representative for details. Property insurance is required; flood insurance may be required. Applications are accepted for properties located in NC, SC, GA, NJ, TN, FL, PA and VA.