The Only Loan or Line You’ll Ever Need
If your sights are set on a large expense like a kitchen makeover, upgrades to your outdoor living space, or college education, or you want to consolidate debt, the equity you have built into your home can offer you a great borrowing option. In fact, the ENB HomeLine could be the only loan or line of credit you’ll ever need.
HomeLine combines the flexibility of a home equity line of credit with the certainty of a home equity term loan. Withdraw cash anytime you need funds and lock in a fixed interest rate on any outstanding balances.
Your unused HomeLine balance remains available at any time. And as you pay down the principle on the rate-locked balance, your available credit amount increases accordingly.
- $5,000 minimum loan amount
- No fee options available
- .50% discount with automatic payment from an ENB checking account
- Loans up to 89.9% of your home’s value
- 1 to 15 year repayment terms on rate-locked balances
- 25 year term and draw period
- Easy access and transfer of funds via check, online banking, phone, or in person at any ENB branch office
- What’s the Difference Between a Home Equity Loan and Line of Credit?
- How Do I Find Out My Home’s Value?
- Can I Switch from a Variable rate to a Fixed Rate Home Equity Line of Credit?
- What is a Second Mortgage?
- What is Loan to Value Ratio?
- What is a Home Equity Line of Credit Draw Period?
- Will I Need Home Appraisal When Applying for a Home Equity Line of Credit?