Home Equity Line of Credit (HELOC)

Home Equity Line of Credit (HELOC)

A home equity line works just like a credit card. Once a line of credit is established, you can draw against it by simply writing a check or by using your AmSouth Platinum Visa®. You borrow what you need when you need it. As you repay your principal, that money becomes available to borrow over and over again. That means you don't have to reapply every time you need funds. A home equity line is the smart solution for those who want the financial flexibility to use their equity over a period of time. And write a check to access your line of credit that can be used almost anywhere, you may never need another loan or a credit card. Plus, with our "Loan in a Line" feature you can lock all or a portion of your balances into a fixed rate with a fixed payment amount. We offer terms of 3, 5, 10 and 15 years that can help make budgeting easier. You can have up to 10 fixed rate "Loan in a Line" balances on your Home Equity Line of Credit, and the interest paid may be tax-deductible (please consult your tax advisor).