Smart financing options with a Home Equity Line of Credit

Borrow up to 80% of your home's equity
Variable rate line of credit
No Annual Fee
You've worked hard for your home. Now it's time to be repaid in kind. When you're taking on home improvements, paying education expenses or saving money with debt consolidation, check out our home equity line of credit. You can apply to borrow against the value of your home, if your property is located in North Carolina, South Carolina, Georgia, New Jersey, Tennessee or Virginia.

Ready to Apply?

Once you are ready to apply, we have provided an easy process that guides your through the steps. And if you have any questions, don't hesitate to reach out to us. You can stop by any of our branches or just give us a call.

* Before applying, please review important disclosures and information.

Sharonview HomeLine

Sharonview HELOC Debit Card

Our HELOC product is designed to help you do more.

  • Get a credit line for up to 80% of your home value, up to $250,000**
  • 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 $995*
  • Variable interest rates as low as 8.50% ***

What You Need to Know

What is a Home Equity Line of Credit or HELOC?

A Home Equity Line of Credit is a credit line that uses your home as collateral. It functions like a credit card, a revolving credit line where you only borrow what you need at that particular moment of purchase. It allows you to pay it down and borrow again as needed. It can also be used for any reason, not just for the home. It is different from a second mortgage that requires you pay interest on a lump sum for the life of the loan and the money could only be used towards a single purpose. Many people use a HELOC to:

  • Improve or repair the home
  • Consolidate debt at a lower interest rate
  • Pay education expenses
  • Cover life expenses, like a wedding or a used car for your child
  • And for many other reasons, because you are not limited to any particular type of purchases

Why Choose a Home Equity Line of Credit?

  • Interest rate tends to be lower than a credit card
  • More flexible than a second mortgage
  • Only take money out when you need it
  • Home improvement expenses can be tax deductible (Consult your tax advisor for details).
  • Access your line with a convenient Visa debit card
  • Pay interest only on the amount you are currently using
  • Ideal for when you don't need to all the money at once

Additional Important Information

  • Minimum credit limit is $15,000. Maximum credit limit can go up to $250,000, but cannot exceed 80% 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

* Information contained in this home value report is estimated using publicly available data and does not qualify as a full home appraisal. If you elect to apply, then a full home appraisal of your actual property value would be required.
** For loan amounts above $250,000, or for appraisals ordered at a member’s request, appraisal fees of approximately $475-$675 will apply. For properties valued at $1 million or higher the appraisal costs may be higher. Additional third party costs may apply. Property insurance is required and flood insurance may be required. HELOCs have a 15 year Draw period and a 15 year Repayment period.
*** Variable interest rate is based on the prime rate. The maximum APR (Annual Percentage Rate) that could be reached is 18.00%.
Accepting applications for properties located NC, SC, GA, NJ, TN and VA.

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