Home Equity Credit Line

What is a Home Equity Credit Line?
Our Home Equity Credit Line is a variable rate, revolving line of credit that allows you to access the available equity in your home.

Features and Benefits

Features	Benefits
No Points, No Closing Costs, No Application Fees	Cost savings by avoiding expensive fees
Borrow up to 80% of equity in the property*	Utilize the equity in your home to your advantage
Access funds through checks	Funds are available when you need them
Repayment Phase	Outstanding principal & interest is paid back over time, rather than all at once
Tax Deductibility	The interest may be tax deductible†

Compare Home Equity Loan and Home Equity Credit Line

*People's United Equity Credit Lines are available with an LTV (Loan to Value Ratio) up to 80% for a 1 family home with loan amounts up to $250,000, 70% for a 1 family home with loan amounts from $250,001 to $500,000, 70% for a 2-4 family home with loan amounts up to $250,000, 60% for a 2-4 family home with loan amounts from $250,001 to $500,000, 65% for a Condominium with loan amounts up to $250,000, 60% for a Condominium with loan amounts form $250,001 to $500,000, 65% for a 1 family home with loan amounts from $500,001 to $1,000,000, 55% for a 2-4 family home with loan amounts from $500,001 to 1,000,000, 55% for a Condominium with loan amounts from $500,001 to $1,000,000. The LTV is determined by People's United at the time of your application and is calculated by dividing the combined balance of your first mortgage and the amount of the People's United Equity Credit Line for which you are applying by the value of your home as appraised by People's United.
^†Because individual situations differ, please consult your tax advisor regarding the deductibility of interest.

Home Equity Loan Disclosure Booklet (PDF)