A home equity line of credit gives you flexibility when paying for major purchases – like home improvements or any surprises life brings.
How does it work?
Much like a credit card, a home equity line of credit (HELOC) lets you borrow up to an approved credit limit over an initial draw period, which is 10 years at Main Street Bank. During this time, you can draw funds as you need them. As you repay the principal (the amount you borrowed), that credit becomes available to use again.
For example, if you have a $25,000 line of credit and use $5,000, you still have $20,000 available to use. If you then repay $3,000, your available credit increases to $23,000. After the draw period ends, you will no longer be able to take credit advances and will repay any outstanding balance (principal and interest) over the remaining 10 years, known as the repayment period.
Compare our HELOC options to find the product that best fits your needs.
| HELOC | HELOC Auto-Pay Special | |
|---|---|---|
| Description | A great solution for debt consolidation, home improvements, and more. | Special rate HELOC when borrower signs up for auto-pay and has $25,000+ line advance, |
| Apply Now | Apply Now | |
| Contact a Community Lender | Contact a Community Lender | |
| APR | 6.75%1 (Variable) | 6.25%2 (Variable) |
| Rate Type | Adjustable based on Wall Street Journal Prime plus 0.00% | Adjustable based on Wall Street Journal Prime minus 0.50% |
| Minimum Loan Amount | $25,000 | $25,000 |
| Maximum Loan Amount | $250,000 | $250,000 |
| Minimum Advance Required | No | $25,000 |
| Applicable Fees/Closing Costs | $0 - $6003 | $0 - $6003 |
| Loan to Value | Up to 80% | Up to 80% |
| Online Transfers Available | ✓ | ✓ |
| Automatic Payment (Auto-Pay) Required | No | Yes |
What you should know about your HELOC.
All loan applications are subject to credit approval.
Terms and Conditions (applicable to real estate loans and lines of credit). Not available for homes currently for sale or intended to be sold within 6 months of closing. Loan to value ratio requirement may be lower due to loan product, property type, lien position, and/or current first mortgage holder. Please call for details. Fees for opening the account range from $0 to $600. ALL RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT NOTICE ADDITIONAL TERMS, CONDITIONS, AND FEES MAY APPLY. PLEASE INQUIRE.
Effective Date: May 4, 2026
For loan subordination requests, please provide the documentation on the Subordination Documentation Checklist.