Put your equity to work toward home improvements, debt consolidation†, or other major purchases with a Home Equity Line of Credit (HELOC). Withdraw funds as you need them, and only pay interest on that portion of the line you use during the draw period.*
In addition to using a HELOC for debt consolidation and home improvements, you may also use it to purchase a new home. You can use the Purchase HELOC for your primary residence, vacation home or investment property.
- Low variable interest rate
- Line of credit is a reusable source of funds
- Interest-only mortgage payments during draw period*
- Link to checking for overdraft protection
- Interest may be tax deductible**
- May be able to borrow up to 90% of your home's value
- Easy access to your credit line with First Tennessee credit card or checks
- No closing costs for lines over $25,000***
See Terms and Conditions
† Before consolidating debt, you should consider all factors including the costs of refinancing compared to the benefits.
††Limit one HELOC gift card bonus per household. To receive the $100 Visa® Gift card, you must apply between January 1, 2016 and March 31, 2016, mention this offer and close a First Tennessee home equity line of credit by April 15, 2016 (geographic, product and other restrictions apply). The offer does not apply to installment loans. The Visa® gift card will be mailed to you approximately four weeks after you’ve closed on your line, and may be reported as income on Form 1099-Misc. Visa® is not a sponsor of this promotion. The Visa® gift card is a prepaid card welcomed anywhere in the U.S. where Visa® debit cards are accepted.
Loan Specialist: Please use promo code VISHLC for the $100 Visa Gift Card promotion. Enter the InStep number into the Coupon Redemption system after closing.
*See Key Facts About Interest Only Home Equity Lines of Credit.
**Consult your tax advisor about interest deductibility. Interest may not be deductible for loans with LTV greater than 100%.
***$500 Commitment Fee for lines less than $25,000
All loans subject to credit and collateral approval. Geographical restrictions apply.