Discover the hidden value in your home with a low-rate HELOC
With a Home Equity Line of Credit, you can tap into the equity in your home by using it as collateral. The amount of equity you have in your home can be estimated by subtracting your mortgage balance from the current market value. Whether you are looking to pay off high-interest debt, make home improvements, or pay for college, a HELOC is there when you need it.
As with other types of home loans, applying for a HELOC will involve checking your credit score and credit history, as well as verifying your income and assessing your home’s market value.
The benefit of using a Home Equity Line of Credit or Home Equity Loan to finance a large expense or consolidate debt is that you can borrow money at lower interest rates than with a credit card or unsecured personal loan.
Discuss your HELOC needs with a member of our lending team. Contact Vision Bank at 888-332-5132
, apply online or visit one of our convenient locations
in Oklahoma to learn more.
Common Questions Asked About HELOC
What is a Home Equity Line of Credit?
A Home Equity Line of Credit starts by providing funds to help pay for unexpected emergencies - anything from heating or plumbing in your house - to planned expenses, such as school tuition or a remodeling project. A Home Equity Line of Credit lets you take advantage of your home's equity and secure it with a first or second mortgage on your primary or secondary residence.
How does a Home Equity Line of Credit work?
A Home Equity Line of Credit puts you in control. Use some or all of your line’s available credit, depending on how much you need at the time. With a HELOC, you can pay contractors or make purchases with the same ease as cash. Vision Bank offers a competitive interest rate and friendly staff and service to help you through the process. Visit one of our locations in southeastern Oklahoma.
Why Choose a Local HELOC Lender?
As an independently-owned community bank serving Ada, Durant, Shawnee, Prague, Meeker, Sulphur, Davis and the surrounding areas, Vision Bank is invested in the success of our community. And because all of our lending decisions are made locally, we offer more flexibility and personalized service. Contact us or visit your local bank today to discuss your HELOC needs with our friendly and knowledgeable lending team.
How do I Qualify for a HELOC?
In order to qualify for a home equity line of credit, you must have acceptable equity in your home. This means that the amount you owe on your home must be less than the value of your home. In addition, a lender will often review your credit score, credit history, employment history, and debt to income ratio. Consult with a lender at Vision Bank today to see if you qualify.