Home Equity Line of Credit (HELOC)

Unlock Your Home's Potential!

Thinking about Upgrading? Utilize a Home Equity Line of Credit. Take advantage of up to $750 in lender credits towards closing costs¹ and 6.49% APR² Introductory Rate!

Home Equity Line of Credit with Intro Rate
Intro Rate - 6.49% APR²
Current Rate (after intro period) - 8.00% APR²
Payment Amount Per $10,000 Financed based on the 6 Month Intro Rate - $54.08
Max Term = 240 Months

What is a Home Equity Line of Credit or a HELOC?

A Home Equity Line of Credit or a HELOC is a line of credit on the existing equity in your home. The line of credit is revolving, so as principal is repaid, more becomes available for use. A HELOC is a great resource for major home improvements or as an emergency reserve.

How can I use a Home Equity Line of Credit?

Major home improvements
Emergency reserve
And much more

Closing Costs:

Security Federal Bank will pay up to $750 in lender credits towards closing costs¹.
- Closing costs are typically $700-$1300 including the appraisal and attorney’s fee.

Additional Benefits:

The existing equity in your home is used as collateral backing
Funds available anytime without reapplying; apply once, then use repeatedly thereafter
Revolving credit – as principal is repaid, more becomes available for use
The interest paid might be tax deductible³.
Set up automatic payments to be deducted from your account monthly
Friendly, professional service from start to finish

Apply Now Disclosure

Disclosure Addendum

^¹Bank will pay up to $750 in lender credit towards closing costs. Closing costs are typically $700-$1300 including the appraisal and attorney’s fee. Property insurance and flood insurance (if applicable) are required. Application must be submitted by February 28, 2025, to qualify for the lender credit and introductory rate. Programs are subject to change without notice.

²Annual Percentage Rate (APR) shown is accurate as of 10/8/24 and is based on a loan amount of $10,000. The initial rate of 6.49% APR will be in effect for 6 months for applications submitted between October 8, 2024, and February 28, 2025. The initial annual percentage rate is discounted – it is not based on the index and margin used for later rate adjustments. Interest only – variable payments for the next 234 months. The annual percentage rate is based on the value of an index. The index is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published in the Wall Street Journal. To determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index with a minimum APR of 3.25%, and a maximum APR of 18.00%. APR based on a loan amount of $10,000. Flood Certification fee of $10.00 is applied at account opening. Application must be submitted by February 28, 2025, to qualify for the lender credit and introductory rate.

³Consult a tax advisor.

Loan approval subject to credit and collateral qualification. Additional limitations may apply.