Home Equity Line of Credit
Convert the equity in your home to flexible, accessible funds.
Put your home to work.
Whether you're looking to pay off high-interest debt, renovate your home, or pay for college, OptionLine, our home equity line of credit, is there when you need it.
OptionLine lives up to its name. You have the option of converting all or some of your floating rate balances to a fixed-rate term loan and back again up to three at a time -- so it's easy to take advantage of the best rates available.
Flexible
- OptionLine is a variable rate line of credit with interest only payments
- As you draw from your line, you can lock in up to three balances at a fixed rate, with a fixed monthly payment1
- After you lock in your balance, choose from a range of terms
Affordable
- Competitive interest rates based on market conditions
- Most closing costs are waived for primary residence OptionLines up to 80% loan-to-value ratio
- The interest you pay may be tax deductible2
Convenient
- Access your available funds anytime
- Advance money online, by check, over the phone, or in a branch
- Connect it to your Cavity Bank checking account as overdraft protection for added security
OPTIONLINE FOR YOUR PRIMARY RESIDENCE
Use your home as collateral and borrow up to 80% of the value of your home, less any existing mortgage debt, as our standard product.
OPTIONLINE FOR YOUR INVESTMENT PROPERTY
Use your investment property or rental unit and borrow up to 75% of the value of the property less any existing mortgage debt.
Apply for an optionline today
Use our online application to apply. Applying online is easy - just make sure you have your mortgage balance, current home value, and purchase price.
5 Improvements That Instantly Add Value
Even if you’ve just started thinking about selling your house, making home improvements can be beneficial for many reasons. The hard part isn’t making the list, it’s figuring out how to prioritize so you get the most out of your investment.
Home Maintenance Check List
You've worked hard to buy your own home. That's why it's important to protect your investment by scheduling updates, repairs, and cleaning. Use this seasonal checklist to keep your home in top shape inside and out.
How to calculate your home equity
The equity in your home is the difference between the current appraised value of your home and the amount you still owe on your mortgage. The equity in your home can be your most powerful tool to help you pay for things, from home renovations to a college degree.
