Home Equity Solution
With a home equity line of credit (HELOC), you may use the equity in your home to finance major purchases and expenses. Work with an experienced lender to determine how much you may be able to borrow against the value of your home.
SPEND MORE ON YOUR DREAMS. SPEND LESS ON FEES.
- Ameris Bank will pay your closing costs—up to $2,000
- Affordable annual fee of $50
- No origination fee
- Interest-Only option available
USE THE EQUITY ACCRUED IN YOUR HOME FOR A NUMBER OF THINGS, SUCH AS:
- Home renovations or improvements
- Paying for educational expenses
- Consolidating high-interest debt
- Cash management
BENEFITS OF A HELOC:
- Competitive interest rates
- Secured financing, which typically results in a lower interest rate compared to unsecured forms of credit
- Monthly payment plan
- Consult your tax advisor regarding the deductibility of interest and charges
How It Works:
A HELOC is a revolving line of credit. This means that as you pay off the credit advanced to you, you can use the credit line again throughout the term of your agreement. You may not exceed your credit limit.
How to Access Your Funds:
Beginning on the effective disbursement date of the agreement, you may obtain credit advances under your credit line in the following ways:
- Transfer Funds Online – conveniently and quickly transfer funds from your account at any time through Ameris Bank Personal Online Banking
- Credit Line Checks – use preprinted checks that we will supply you
- Requests in Person– request a credit advance in person at any of our authorized locations
- Deficit Funds Transfer – if you choose, set up your accounts to have these funds transferred to cover overdrafts in a deposit account
Opening a HELOC is subject to credit approval. Borrower is responsible for closing costs over $2,000. Customary closing costs include third-party fees for property appraisal, attorney/title, credit reports, flood determination, recording and mortgage taxes. These costs generally range between $950 and $2,150. Property insurance is not a closing cost. Homes for sale are not eligible. Borrowers who close their credit line within the first three years are subject to a $500 early closure fee.