Home Equity Lines of Credit

Cardinal Bank offers such an option as home equity lines of credit. A Home Equity Line of Credit utilizes the equity in your home with the aim to free cash up for home improvements, big purchases and other unplanned expenses. A Home Equity Line of Credit in this bank provides more flexibility than a home equity loan by allowing homeowners to transfer funds on an as-required basis.

Bank of America also offers a home equity line of credit. It lets you borrow against available equity with your home as additional collateral. The bank offers a low variable introductory rate on a home equity line of credit. It is equal to 3.990% APR.

Capital One has the service of either home equity loans or home equity lines of credit (HELOCs). A HELOC is characterized as a line of credit. It is secured by the equity in your home to the correct limit. Interest rates are lower in comparison with a regular home equity loan.