Personal Banking

Home Equity Lines

Home Equity Lines let your home work for you for a change. A HeritageBank Home Equity Line of Credit is flexible enough to be used for whatever you need, whenever you want, simply by writing a check.

  • Credit lines from $10,000 to $100,000
  • Borrow up to 100% of the appraised value of your home up to $100,000
  • Closing costs waived*
  • Convenient personal checks provided for easy loan advances - first order of checks free
  • Write yourself a loan from $250 up to your available credit
  • Interest may be tax deductible** . . . consult a tax advisor regarding the deductibility of interest
  • Receive an Equity Management Account card to make purchases anywhere Mastercard is accepted. The amount of the purchase is deducted from your available line of credit and the card has no annual fee. You even earn rewards points.

With the equity in your home you can:

  • Make home improvements
  • Pay your income taxes
  • Take a dream vacation
  • Consolidate debt
  • Pay college tuition
  • Buy a car, boat or RV

* Variable interest rate tied to prime according to the Wall Street Journal Prime Rate. The minimum rate will never go below index and the maximum is 18%. The APR may vary. As of 3-20-08, the APR may be as low as 5.25% or up to 7.25% APR. Certain restrictions apply. Terms are subject to credit approval. If you close your account within two years, we will add any closing costs we paid on your behalf to your outstanding balance. Closing costs normally range from $250 to $560. Property and/or flood insurance will be required. An inactivity fee of $30 will be imposed if no draws are made within a 12-month period. Late charge is 5% of payment or $.50, whichever is greater. Over the limit fee $20 per credit transaction. $5 fee for any advance made in an amount less than the minimum balance.

**Consumer should consult a tax advisor for further information regarding the deductibility of interest and charges.

Reverse Mortgages

This Reverse Mortgage program is for homeowners age 62+ who have built up equity in their homes.

  • Eligible properties include single-family homes, condominiums and townhouses, or a two-to-four unit dwelling
  • Cash advances can be used for any purpose
  • Retain title to your property
  • Receive cash in monthly payments, a lump sum, a line of credit, or any combination of these
  • Social Security and Medicare are not affected

Access the equity in your home for:

  • Medical expenses
  • Home improvement
  • Payoff debt
  • Traveling
  • Grandchildren’s education
  • To add additional income to your monthly budget

Wells Fargo Home Mortgage, division of Wells Fargo Bank, N.A., is the administrator of this reverse mortgage program.