Home Equity Comparison
Home Equity Line of Credit
Learn MoreBest For
Use for ongoing expenses: home improvements, college tuition, wedding, vacations
How it Works
Similar to a credit card with a credit limit based on the home's equity
Amount
Minimum limit $10,000
Funds
Draw funds as needed
Interest Rate
Variable interest rate
Repayment
Payments will vary according to loan balance
Term
Available up to 7 years
Home Equity Loans
Learn MoreBest For
Use for one-time expenses: remodel, roof repair or debt consolidation
How it Works
Similar to a mortgage with a loan amount based on the home's equity
Amount
Minimum loan $10,000
Funds
Proceeds deposited into your Chief account
Interest Rate
Low fixed interest rate
Repayment
Fixed payments for the length of the loan
Term
Choose 5, 10, or 15 years
NMLS: #800905