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You've built up equity in your home. Let's see what that means.
A line of credit is a pool of money you can tap into anytime you want for almost any reason. When AbbyBank approves a Home Equity Line of Credit (HELOC), it's based on a percentage of your home's equity. Basically, "equity" is the current market value minus any outstanding mortgage balances. This calculator can help you figure out your equity level - and borrowing power.1
Home Equity Line of Credit Calculator
Use this calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.
AbbyBank is a full-service financial institution with Wisconsin locations in Abbotsford, Appleton, Gresham, Medford, Shawano, Wausau and Weston.
1Max credit limit from AbbyBank may apply.