The Power of an Equity Line |
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When debt is balanced with savings and financial planning, certain debt can actually be an asset.
Ready cash whenever you need it.
A home is the largest asset that most people have, and it is also their greatest asset. One of the key advantages to having home debt is the possible tax break it affords.1 In addition, mortgage loans and lines tend to have lower interest rates than other types of credit products such as credit cards or vehicle loans.
Build Your Dreams with a Prime Equity Line
A Prime Equity Line of Credit2 is a flexible line of credit that allows you to borrow against the equity in your home in order to consolidate debt3 or make major purchases. Maybe finance major home improvements that will add value to your home.
- The Prime Equity Line offers up to $750,000 with low adjustable interest rates.4
- The reusable line of credit remains open, so that the money is available whenever you need it.
Look for an equity line that gives you more. With Wachovia’s Prime Equity Line of Credit, you can also enjoy a Crown Relationship Banking Package which features:
- No monthly service fee checking account when you maintain the minimum balance plus your Prime Equity Line amount counts toward your minimum balance requirement.
- Free Online Banking with free Online BillPay
- Free CheckCard with Visa Extras rewards
- Make your loan payment directly from your checking account.
Build Your Business with a Business Equity Line
Home equity can also serve as a safety net for small business owners. One of the major hurdles that stand in the way of small business customers obtaining credit is the lack of collateral. The Business Equity Line enables small business owners to use their primary residence as collateral. You can use your home to qualify for short-or long-term credit. The loan remains in your business’s name, which helps you keep your business and personal expenses separate.
Business Equity Line4 features include:
- Line amounts from $50,000 to $250,000
- No income documentation on loan amounts $100,000 or less
- Interest rate of Prime -0.5 percent for lines over $100,000
- Interest rate of Prime +0% on lines up to $99,999
- Overdraft protection for business checking account
- No annual fee
Quick. Easy. Convenient.
The one-page application process is quick, easy and convenient, ideal for busy small business owners. Best of all, you can rest assured knowing you have easy access to emergency funds if you need them.
Streamline your finances.
No matter your financial situation, an equity line of credit could be the answer to fulfilling your dreams. With flexibility, potential tax deductibility1, and convenient anytime-access to your funds, equity lines could help you to reach your financial goals.
