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FlexLine Home Equity & Fixed Home Equity

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FlexLine Home Equity Line of Credit

FlexLine Home Equity Line of Credit allows you to use the equity in your home to establish a line of credit.  It’s the easy way to fund major expenses or consolidate your debt using the equity in your home.   FlexLine benefits include:

  • 0% APR for first 90 days, then variable rate of 8.15% or lower*
  • No payments for 3 billing cycles*
  • No closing costs*

How you use FlexLine is completely up to you.

  • Use the funds for a home improvement project, education, medical bills, vacation plans, a new vehicle, wedding expenses, or just about anything
  • Draw funds from your FlexLine when you need them simply by writing a check or making a transfer to your checking account
  • Only repay what you use
  • Interest may be tax deductible (consult your tax advisor)

Fixed Home Equity Loan

A fixed home equity loan uses your home’s equity to provide a lump sum of cash.  The benefits of home equity loans include:

  • A consistent monthly payment
  • You won’t be left with a large payment due at the end of your loan term
  • The interest you pay on your home equity loan may be tax deductible (consult your tax advisor)
  • Funds can be used for nearly any need you have

Are you wondering whether a home equity loan or a line of credit is right for you?  Peoples Bank lenders are here to help.  They will listen first and then explain the options available to you and the benefits they pose.


You may read  What You Should Know About Home Equity Lines of Credit (HELOC) from the Consumer Financial Protection Bureau, helping you understand your options when borrowing against the equity in your home.


*Introductory rate of 0% Annual Percentage Rate (APR) is fixed for the first 90 days. After 90 days, the following variable rates would apply: 7.2% APR for line limits of $100,000 or more; 7.7% APR for line limits of $50,000 to $99,999; and 8.15% APR for line limits of $25,000 to $49,999. The floor is 3.75% APR with a ceiling of 18% APR. The APR will vary based on the U.S. Prime Rate as published in the Wall Street Journal +/- a margin. The margin is based on your total line limit. As of May 4, 2023, the Prime Rate was 8.25%. The minimum line of credit to receive the introductory rate and qualify for no closing costs is $25,000. HELOC must be new money to the bank. For requests under $25,000, other HELOC options are available. Collateral cannot be classified as a manufactured or mobile home. Owner-occupied primary residence only. Homeowners insurance is required. Minimum payment may result in a balloon payment at maturity. Rates and APRs are subject to change without notice. Subject to credit approval. We reserve the right to discontinue this offer at any time.  Other terms and conditions may apply.  Please call for details.