Home Equity Lines of Credit in Kenmare, North Dakota
Home values in Kenmare, North Dakota have increased significantly in recent years, making it an opportune time to tap into the equity of your home as an affordable financing option. Town & Country's home equity lines of credit (HELOC) come with low rates and flexible funding timelines, which help you cover large expenses as needed.
How a HELOC Works
A HELOC uses your home equity as collateral for a line of credit. And with Town & Country, you can borrow up to 80% of the equity in your Kenmare home.
Choose from two different types of home equity lines of credit at Town & Country: a 5-year draw period or 10-year draw period. With either one, you can also opt for interest-only payments or principal plus interest payments. The first one keeps your payments low early on, while the second one replenishes your credit line throughout the draw period.
Rates are variable with both options and adjust monthly, meaning they can go up or down depending on the index rate. Plus, there's a maximum so you can calculate the most you could pay each month. After the draw period, you'll then repay the balance over a 15-year period.
Why Choose Town & Country for Your HELOC in Kenmare?
We're ready to help Kenmare homeowners make the most of their equity with an easy online application and competitive rates. In addition to our flexible home equity line of credit terms, other perks include:
Faster funding time compared to a home equity loan.
No restrictions on how to use your HELOC funds.
You could qualify for a tax deduction on interest payments if HELOC funds are used for home improvement purposes (check eligibility requirements with your tax advisor)
Considering a HELOC? Contact Town & Country Credit Union or apply online today!
*APR = Annual Percentage Rate. Rate accurate as of 11/8/2024. Rates dependent on credit and underwriting factors and automatic payment. 5- or 10-year draw period with a 180-month repayment after draw applies. Rate adjusts on the first day of each month as the Prime rate changes based on the Wall Street Journal. Maximum APR is 18%. There may be additional fees up to $1,000. Terms and conditions apply and are subject to change.
