Home Equity Line of Credit in Pittsburgh and Cleveland

A Home Equity Line of Credit is an open-ended loan secured by your home's equity.  A line of credit allows you to borrow again and again as you need it without reapplying.  You only make payments on the amount that you use and can access your credit line by simply writing a check or visiting any Dollar Bank office.  There is a minimum advance amount of $100.

Your home’s equity is calculated by the difference between the current market value of your home and the amount you still owe on any mortgage or loans that are secured by your home.  The amount of equity determines the amount of the line of credit you qualify for.  The interest paid on a home equity line of credit may be tax deductible.*

Dollar Bank offers two types home equity lines of credit.  With either option, the minimum borrowing amount is $10,000 and there are no prepayment penalties.**

SuperPrime Home Equity Line of Credit
Your monthly payment on a SuperPrime Home Equity Line of Credit is calculated on a percentage of your balance and includes both your principal and interest.

Interest-Only Home Equity Line of Credit
An Interest-Only Home Equity Line of Credit offers the flexibility of making interest-only payments or paying down your principal at any time without penalty.

Third-lien position home equity lines of credit are also available.  This allows you to access more of your home’s equity at a great rate without having to refinance your first or second-lien loan.  For details or to apply for a third-lien home equity line of credit, call 1-800-242-BANK or your local Dollar Bank office.

To calculate how much you can save in interest with our home equity lines of credit, click here.