Line of Credit | Term Loan | |
---|---|---|
Product Description | A flexible line of credit against the equity in your home that you can draw from when you need it. | Borrow a defined amount for a certain period of time. Payments and interest rate is fixed for the life of the loan. |
Interest Rate Option | Variable with a Fixed Rate Loan Option | Fixed |
Interest Only Payment Option | Yes | No |
Access to your funds | Checks and Eastern Connecticut Savings Bank branches | All funds are advanced in one lump sum |
Maximum Loan-to-Value % | 85% | 90% |
Apply View Rates | Apply View Rates |
Home » Personal » Lending » Home Equity » Comparison Chart