A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans Footnote 1 such as credit cards. A HELOC often has a lower interest rate than some other common types of loans, and the interest may be tax deductible.Home Equity Line of Credit (HELOC) Features. Access your available funds easily with a check or transfer from online banking. Use and reuse your line as you re-pay for up to 10 years. 2 choose from two monthly payment options: interest only or principal + interest. 2 Fixed rate lock option allows you to set up predictable monthly payments by converting all or a portion of your outstanding.Home equity loans are a low-cost option to finance large projects or purchases, consolidate debt, finance a wedding or go on a dream vacation. Home Equity Line of Credit. No prepayment penalties; No maintenance fees; Credit line allows access as needed. First nebraska credit union does not.Home equity tips. A home equity line of credit, or HELOC, has an adjustable rate of interest attached to paying it off, which means that your payments can fluctuate based on the federal funds rate. Think about a home loan if the idea of an adjustable rate unnerves you. Know your loan-to-value, or LTV, ratio.First State has over a dozen different locations in Eastern Nebraska to serve you! Find a location near you, as well as business hours and contact informationIn a line of credit, the period when no advances of principal are available and during which the line must be fully repaid, according to the payment terms. In a home equity line of credit, the repayment period is the portion of the loan term that follows the draw period.There is no shortage of ways you can use home equity loans or lines of credit. Cornhusker Bank also offers special low-rate loans to conscientious home owners, working with the Nebraska energy office. potential uses for a home Energy Loan are for new windows and doors, insulation, high.When they’d have a speed test, I would just race through the first line so I could SLAM the carriage back. He lasted three years before he returned and finished at the University of Nebraska. One.