Unlock your home's equity
Home improvements, tuition, even an epic vacation – imagine all the things that your home could do for you.
While homeownership comes with a significant cost, it's also the best investment you can make. A home equity line of credit is your return on that investment, using your home's equity to put cash on hand for whatever you want, whenever you need it.
Unlike a traditional home equity, think of a home equity line of credit like a credit card – you only take and pay interest on what you use. Plus, you might even be able to borrow up to 100% of your home's equity, offering you flexibility you can't get anywhere else.
How does a home equity line of credit work?
You've worked to build equity in your home. It's an investment, and a home equity line of credit can be the return.
A home equity line of credit tends to have lower rates than other loans because the value you've built in your home acts as security. And the interest you pay on many home equity loans is tax-deductible, helping you save twice.
How much credit can I get with my HELOC?
You can get up to 100% of your home’s equity. That’s the assessed value of your home minus what you’ve paid on your first mortgage.
For example, a home valued at $150,000 with $75,000 remaining on the mortgage would yield a credit line of up to $75,000. You only pay interest on what you use. Click here for the current rates.
How can I calculate my equity?
Use the calculator at the bottom of the page – it's easy!
What else should I know?
We've created a list of helpful articles to help you better understand the benefits of a HELOC.
And, if you're thinking about home improvements, check this article out in particular!
What do I need to apply?
It's easier than you think! Just gather Proof of Ownership and Proof of Income:
PROOF OF OWNERSHIP
Qualified proof required, such as the deed to your property.
PROOF OF INCOME
Traditional employment income:
• Two years W2s
• 30 days paystubs
Self-employment income:
• Two years signed tax returns
Retirement income:
• Two years 1099s
Rental property income:
• Two years signed tax returns
...and that's all you need!
As a homeowner, you made a wise investment. Apply online or schedule an appointment to take the next step.
Eligible Lending Counties - Geographic Boundaries
Visions can lend to the following areas if a person qualifies for membership:
New Jersey:
Bergen, Essex, Hudson, Hunterdon, Monmouth, Middlesex, Morris, Passaic, Somerset, Sussex, Warren, and Union
New York:
Broome, Cayuga, Chemung, Chenango, Cortland, Delaware, Dutchess, Jefferson, Livingston, Madison, Monroe, Oneida, Onondaga, Ontario, Orange, Orleans, Oswego, Otsego, Rockland, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Westchester, Wyoming, and Yates.
Pennsylvania:
Berks, Bradford, Carbon, Chester, Cumberland, Dauphin, Lancaster, Lebanon, Lehigh, Monroe, Montgomery, Northampton, Pike, Schuylkill, Susquehanna, Tioga, Wyoming, and York.
