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WHAT IS A HOME EQUITY LINE OF CREDIT?
Tap Into the Equity in Your Home with a HELOC from bankcda.
A Home Equity Line of Credit (HELOC) is a flexible, revolving credit line secured by the equity in your home—much like a credit card, but with typically lower rates. You can borrow what you need, when you need it, and only pay interest on the amount you use.
At bankcda, we offer HELOCs from $10,000 up to $250,000 with a competitive loan-to-value (LTV) ratio of up to 80%. Whether you’re renovating, consolidating debt, or covering unexpected expenses, your home’s equity can work for you.
REQUIREMENTS TO GET A HELOC
To qualify, you’ll generally need a FICO® score of 660 or higher and no history of bankruptcy. We also consider factors like:
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The amount of equity in your home
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Employment history
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Monthly income and current debt
Take control of your credit with MyCredit Manager—available for free through bankcda’s Mobile App and Online Banking. Powered by Array, MyCredit Manager lets you monitor your credit score and understand the factors that influence it. (Please note: this score is for educational purposes only and is not used by bankcda when making credit decisions.)
BENEFITS OF HELOC
A Home Equity Line of Credit (HELOC) from bankcda gives you flexible, affordable access to the equity in your home—when and how you need it. Whether you’re planning a remodel, consolidating debt, or covering unexpected expenses, our HELOC offers competitive rates, interest-only payments on the amount you use, and personalized support from your local community bank. At bankcda, we’re here to help you make the most of your home’s value.
Flexible Borrowing, On Your Terms
Access the funds you need, when you need them—up to your approved credit limit. As you repay, your credit becomes available again, giving you ongoing flexibility for future expenses.
Cost-Effective Financing
With typically lower rates than credit cards or personal loans, a HELOC from bankcda helps you save. Plus, you only pay interest on the amount you actually borrow—keeping your costs under control.
Easy, Local Access to Funds
Getting your money is simple. Draw from your HELOC by writing a check, transferring funds directly to your bankcda checking account, or stopping by any bankcda branch. Fast, convenient, and always close to home.
READY TO APPLY?
Start the process today with a team that knows you by name. Applying for a HELOC with bankcda is fast, secure, and supported by local experts every step of the way.
Common Ways bankcda Customers Use Their HELOC
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Debt Consolidation: Simplify your finances by paying off high-interest debts with a lower-cost HELOC.
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Home Improvements: Invest in your home’s value and comfort with remodeling, repairs, or upgrades.
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Education Expenses: Cover tuition, books, or other school costs for yourself or your family.
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Major Purchases: Finance big-ticket items or unexpected expenses with flexible, affordable access to your home’s equity.
Have Additional Questions?
Explore our Frequently Asked Questions to learn more about bankcda’s HELOC options, application process, and how we can help you access your home’s equity.