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.

apply now

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

Manny M.
North Carolina member

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.

Gus K.

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.

Patty S.
North Carolina member

It’s the finest CU I’ve used in my many years, very knowledgeable cashiers, managers and loan professionals.

Kathy W.
North Carolina member

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.

Tanzola M.

Great tellers with excellent customer service skills. Been using for over 10 plus years. Keep it up ladies and gents you rock.

Max S.

Very nice bank, staff is always ready to help with whatever you need.

Apply for a line of credit

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

apply now

Become a member

Have joy. Do the right thing.

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  • 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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