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Fixed-Rate Loan Option

Does a Fixed-Rate Loan Option make sense for you?

Enjoy the predictability of fixed payments when you convert some or all of the balance on your variable-rate home equity line of credit (HELOC) to a Fixed-Rate Loan Option. Your fixed rate won't change for the selected term — which means you're protected from the possibility of rising interest rates.

Existing HELOC clients: If you have questions about your account, please call customer service for more information at 800.934.5626 (Monday –Friday 8 a.m. –9 p.m. ET).

How a Fixed-Rate Loan Option may save on interest payments

  • Transfer higher interest-rate credit card or installment loan balances from other financial institutions to your HELOC — and then set up a Fixed-Rate Loan Option to pay off the balances adatext

  • Protect against rising interest rates. If variable rates on your HELOC balance move above the fixed rate of a Fixed-Rate Loan Option, you could pay less interest on the Fixed-Rate Loan Option balance.

Benefits of a Fixed-Rate Loan Option

  • Predictable monthly payments that stay the same for the selected term - never worry about the possibility of rising interest rates

  • No fees to convert your variable-rate HELOC balances to a Fixed-Rate Loan Option adatext

  • Flexibility of maintaining up to 3 Fixed-Rate Loan Options at one time

How does a
 Fixed-Rate Loan Option work?

Here's an example using a home
 equity line of credit of $40,000. 
Example is for illustrative purposes only.

Total home equity
line of credit:
  • Fixed-Rate Loan Option
    (kitchen remodel)
    locked at a fixed rate
  • Withdrawals made at
     variable rate (car repairs)
  • Available credit

Home equity basics

See how you can convert variable rate balances to fixed rate loans with consistent payments.

*This video is provided for educational purposes only and is not a commitment to lend. Please contact us so we can discuss your specific situation.
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