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Variable Rate HELOC

Borrow as you need, with interest-only payments

variablerateheloc_icons
Variable Rate HELOC

Borrow as you need, with interest-only payments

Overview Fixed Rate HELOC Variable Rate HELOC

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Speak with a Mortgage Specialist to explore your options.

423-752-0225

Why Choose COMTRUST for Your HELOC?

Easily unlock the value of your home with a Variable-Rate Home Equity Line of Credit (HELOC).

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    Competitive Rates

    Your rate can be as low as Wall Street Journal Prime Rate.

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    Flexible Borrowing Power

    Access funds anytime within the 5-year draw period.

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    Built-in Interest Protection

    Minimum floor rate of 3.50% and a ceiling of 8.50%.

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    Manageable Payment

    Ideal for short term borrowing power, with interest-only payments during the draw period.

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    Easy Access to Funds

    Withdraw funds in person, by phone or digital banking.

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Learn more about Variable Rate HELOC

What is a Variable-Rate HELOC?

A Home Equity Line of Credit (HELOC) allows you to borrow against your home’s equity with a flexible line of credit. Our variable-rate HELOC adjusts based on the Wall Street Journal Prime Rate giving you competitive rates that align with market trends.

Key Features:

  • 5-Year Draw Period – Withdraw funds as needed.
  • Interest-Only Payments for First 5 Years – Keep payments manageable.
  • 15-Year Repayment Period – Pay back what you borrow over time.
  • Low Closing Costs – Save on upfront expenses.
  • No Prepayment Penalty – Pay off your balance early with no fees.
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What Can You Use a HELOC For?

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    Home Renovations

    Upgrade your home with a kitchen or bathroom remodel.

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    Debt Consolidation

    Consolidate high-interest debt into one low payment.

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    Education

    Finance your child’s education or your continuing education.

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    Emergency Expenses

    Prepare for the unexpected with fast access to funds.

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    Large Purchases

    Use your HELOC to make major purchases more affordable.

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    Vacation

    Take that dream vacation you’ve always wanted.

Frequently Asked Questions

We understand that making decisions about your finances is important, and we want to ensure you have all the information you need. Below are answers to some of the most common questions about our Variable-Rate HELOC. If you don't find what you're looking for, feel free to reach out to us directly!