How is a Home Equity Line of ChoiceSM different from a standard Home Equity Line of Credit, or a Home Equity Loan?
Home Equity Line of Choice gives you the best of both worlds by combining the flexibility of a line of credit with the security of a fixed rate loan, in one convenient account. Home Equity line of Choice allows you to make purchases with a line of credit, and if rates start to rise, you have the option to request all or a portion of the outstanding balance set up as a fixed rate loan.
