HELOC Fixed Rate Locks
When you open a variable-rate Home Equity Line of Credit, you can lock in a portion of that line at a fixed interested rate for a specified term to take advantage of lower rates that won’t fluctuate. And you can set up additional Fixed Rate Locks as the need arises, up to the amount available on your Home Equity Line of Credit.
For example, you may have a $25,000 Home Equity Line of Credit. You can fix a portion of that amount, say $10,000 at a lower fixed rate for a five to 20 year term. The remaining $15,000 is still available to you at the variable rate, or to lock in at a fixed rate. You can have up to three Rate Locks in place at a time, with a minimum of $5,000 per Rate Lock.
Use the options below to start or edit an existing Home Equity Line of Credit application.