Home Equity Lines of Credit
A wonderful option for using excess cash in your home.
Check out our latest Home Equity Line of Credit Specials!
This is a variable rate loan that allows you to make draws against the equity in your home, much like using the available credit on your credit card.
A First South Financial Home Equity Line of Credit (HELOC) offers you the following benefits:
- A great low-interest rate
- No floor rate
- Limits as high as $500,000
- No points or origination costs*
A home equity line of credit is a great way to pay for:
- Major home remodeling
- Purchasing a vehicle
- A dream vacation
- Paying off higher interest debt
- And more
Have more questions? Check out our HELOC FAQs page.
| Loan to Value (LTV) | Terms and Draw Periods | APR |
|---|---|---|
| Up to 80% LTV | up to 20 years/12 year draw period | Prime + 0.00%^ |
| 81% to 90% LTV | up to 20 years/12 year draw period | Contact First South Financial for details. |
GETTING PRE-APPROVED
KNOW YOUR FINANCING OPTIONS BEFORE YOU START TO SHOP
We also offer many ways to make your home equity loan payments. Learn more about our loan payment options.
^After the 6-month introductory period, the APR will revert to Prime, as listed in the Wall Street Journal, plus a margin of up to 2.00%. Maximum LTV is 90% and maximum APR is 18.00%. Rates may change quarterly based on rates published in the Wall Street Journal. After your loan is established and if you pay off and close your line of credit within 36 months of opening, you would be responsible for a recapture fee generally totaling between $300 and $3,000. The fee includes costs associated with originating your loan and may include, but not limited to, appraisal fee, credit report fee, flood certification, and title search. There may be an appraisal cost if the appraisal fee exceeds $500. Homeowners insurance is required, and flood insurance may be required. Excludes existing FSF HELOCs. Balances cannot be transferred from existing First South Financial loans or credit cards to a First South Financial HELOC. Loans are subject to approval criteria; not all applicants will qualify. Home Equity Line of Credit is available in TN, AR, and MS. Equal housing opportunity. All rates and offers are subject to change or withdrawal without notice. Please see First South Financial for complete details. NMLS# 410640
