Perfect for the customer who wants
The flexibility to borrow as needed
Interest Rate
Variable with the option to lock in at a fixed rate and term
Term
15 years, interest-only payments-plus, the option to convert any portion of the draw to a fixed rate
Minimum Amount
Minimum draw is $100
Annual Fee
No
Money Management Tools
Use our free and secure Online Banking and Mobile Banking to get 24/7 access to your account information:
- Check loan balance
- Make a loan payment with funds from your Meridian deposit account
Other Extras
- No application fee
- Fix your monthly payment by locking up to three fixed-rate term loans with the line at any time
- Draw as often as desired on funds up to your limit
- Convert the fixed-rate loan back to a variable rate at any time during the draw period
- Access funds by transferring to your Meridian account or writing a check
- Flexible location options for loan closing
- Automatically deduct payments from your Meridian account
1Consult your tax advisor for more details. See an associate for disclosures and other pertinent information regarding our Home Equity products.
