If you ever wished for the flexibility of a home equity line of credit, with the ability to lock in a low, fixed rate, you are in luck. Now with our new Flex Lock Home Equity Line of Credit (Flex Lock HELOC), you get the best features of a home equity loan and a home equity line of credit, together in one place.
Spend, Lock, Save, Repeat.
The Flex Lock HELOC allows you to spend now, then lock in that portion of the balance at a fixed rate and still have the rest of your line available to use when needed.1
You can pay for college tuition or major home improvement projects now and lock them in at a fixed rate, while still having available funds to cover unexpected expenses.
Flex Lock Features
- Five-year draw period with a 15-year repayment period. "Lock-ins" are available for 1 to 15-year terms.
- Fixed and variable rate balances. Any balances you choose to lock-in are locked in at a fixed rate. Unlocked balances have a variable rate, even during your repayment period.
- Lock-in balances up to three times during the 5-year variable rate draw period. A $35 fee is assessed for each lock.
- May be used as an overdraft protection source for your checking account during variable-rate draw period.2 If you would like to set up overdraft protection, please complete our Home Equity Line of Credit Overdraft Coverage Agreement.
- Pay nothing unless you use your line.