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| | | Borrow money as you need it up to the credit limit. Each time you pay principal it frees up that amount of your credit line for later use. |
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| | | Variable rate.The rate varies monthly based on prime rate as published in The Wall Street Journal plus a margin. |
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| | | Varies monthly with rate and depends on how much you've borrowed against your credit line. During the 5 or 10 year draw period, you have the flexibility to pay interest only. After the draw period, your principal and interest payment vary to pay off the loan in the remaining years. |
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| | | As easy as writing a check for $250 or more. |
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| | | Lower interest rates than most unsecured credit lines (i.e., credit cards). |
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Tax Advantages
(Ask your tax advisor.) |
| | | Interest may be tax-deductible (consult your tax advisor). |
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| | | Good safety net for unexpected expenses or emergencies. |
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. Some products may not be available in all states.