Interest-Only Home Equity Line of Credit
take advantage of what you've earned.
If you have a small-to-moderate balance on your mortgage, and you’d like to borrow against your home at a lower rate, consider an Interest-Only Home Equity Line of Credit. Pay interest only during the 15-year draw period; get up to 15 years to repay it afterward.
Apply for a line of credit
Find out if you're eligible for an Interest-Only Home Equity Line of Credit.
Pay interest only for the first 15 years of this variable-rate home equity line of credit
After the interest-only period, you have up to 15 years to repay the balance
During the initial draw period, you can make advances, repay and advance again as needed
What others are saying
By far better than any bank I’ve ever been with. Don’t have to worry about all those fees and requirements. Hassle free banking.
I have been an Allegacy member for a few years now. Overall, this has been a great experience. Their staff is very customer service oriented. There was a potential issue just before closing on our house, and one of the branch managers helped us work through the issue, personally seeing it through.
It’s the finest CU I’ve used in my many years, very knowledgeable cashiers, managers and loan professionals.
I have been a member with the Allegacy back when it was Reynolds Credit Union. Excellent service in the CU. Excellent service on the phone. Excellent app for my phone. Web site very user friendly. I highly recommend Allegacy FCU.
Great tellers with excellent customer service skills. Been using for over 10 plus years. Keep it up ladies and gents you rock.
Very nice bank, staff is always ready to help with whatever you need.
Apply for a line of creditFind out if you're eligible for an Interest-Only Home Equity Line of Credit.
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Let's be our best, together
When you become an Allegacy member, the benefits aren’t just individual. When you invest with us, we invest in arts, education, health and community service organizations throughout the Triad. It brings us joy to help our community thrive. It’s also the right thing to do.
Become a memberHave joy. Do the right thing.
- All loans are subject to credit and property approval. Rates are variable and are based on your credit history and profile. Rates and terms are subject to change without notice. All loans require a minimum payment of only the monthly interest due for the first 15 years during the draw period, after that time, the loan is converted to the repayment period of up to 15 years.