Home Equity Line of Credit

Home Equity Line of Credit

You don't have to wait until you sell to realize some of the value you already have in your home. A home equity line of credit allows you to borrow against the equity you've already built, and the interest may be tax deductible.*


With no annual fees and no upfront closing costs, it can be an affordable way to borrow when you need extra cash for home improvements or necessary major purchases.

Home Equity Line of Credit

With a home equity line of credit (HELOC), you may be able to borrow up to 80% of your home's equity and your interest may be deductible.* HELOCs have variable rates and allow you to draw up to the amount available on your line as you need the cash, rather than receiving the money all at once. Salal offers two convenient HELOC options:


  • The Online Access HELOC offers flexibility with payments, rates, terms and easy access via Online Banking. This HELOC features no balloon payment and no annual fee.
  • The Visa┬« Access HELOC comes with a Visa Equity card which can be used like a credit card to access your available line amount. Depending on your situation, the balloon payment and longer draw period with this line may be beneficial.

*All Salal loans are subject to credit approval. Consult your tax advisor about the possibility of tax deductions.

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