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Home Equity Line of Credit (HELOC)

Do you need money for college tuition, home improvements, or maybe a well-deserved vacation?  Whatever your reason, a home equity line of credit is a resourceful way to get the cash you need – when you need it.

  • Variable interest rate
  • Interest-only payments during the draw period and only on the amount borrowed
  • Interest payments may be tax deductible (consult your tax advisor for advice on your specific situation)
  • Closing costs paid for by i-bank up to $500*
  • $50 annual fee (waived if you have an Independent Bank checking account with automatic payment drafted monthly for our Home Equity Line of Credit)*
  • Contact i-bank for more information.

Call Customer Service at 888-716-9293, stop by any of our branches, or apply online to begin your HELOC application.

Terms

*CLOSING COSTS.  Independent Bank will pay up to $500.00 in closing cost.  The Borrower will be responsible to pay any remaining closing cost above the $500.00 paid by Independent Bank.  Any closing cost associated with future changes or modifications of this line of credit shall be paid by the Borrower.  WAIVER OF ANNUAL FEE.  At account opening, the Annual Fee will be waived if you have an Independent Bank checking account with automatic payment drafted monthly for your Home Equity Line of Credit payment.  The Waiver of Annual Fee will terminate if you discontinue your automatic payment with Independent Bank or close your Independent Bank checking account.  The waiver will be removed and shall be subject to the original terms listed in the Home Equity of Credit Agreement.  EARLY TERMINATION FEE.  You will be charged a $500 Early Termination Fee if you terminate your Credit Line within 36 months from account opening unless it is refinanced with Independent Bank.