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.

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Interest-Only Period

Pay interest only for the first 15 years of this variable-rate home equity line of credit

Repay Afterward

After the interest-only period, you have up to 15 years to repay the balance

Revolving Loan

During the initial draw period, you can make advances, repay and advance again as needed

What others are saying

couple in car selfie
Laura G.
member from Kernersville, NC

We had heard very positive comments regarding Allegacy so we applied for membership and a vehicle loan. Selina made the whole experience seamless and enjoyable. We will certainly consider Allegacy for any future financial needs.

dad and son being silly selfie
Ken M.
member since 2005

As always you are very helpful, courteous, and professional. You and people like you are the reason I am with Allegacy and will never go back to a bank.

family selfie with dog
David T.
member from Anaheim, CA

At 1st, I was weary of the thought an out of state bank. Brandi and your team made the process so easy. She was very responsive informative and helpful. I am very thankful i found you guys.

Apply for a line of credit

Find out if you're eligible for an Interest-Only Home Equity Line of Credit.

apply now

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Disclosures

  • 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.

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