Home Equity Line of Credit
Making changes and looking to extract value out of your home? The Southern Bank makes it easy to apply for a Home Equity Line of Credit (HELOC) so that you can get back to the other important things in your life.
Basics of a HELOC
A Home Equity Credit Line (HELOC) is a flexible, revolving line of credit that’s secured by a primary or secondary residence. Home equity loans and lines of credit are secured against the value of your equity in your home (the difference between what you owe on your home, and what it’s worth today). For that reason, lenders may be willing to offer rates that are lower than they do for most other types of personal loans.
You might be a fit for a HELOC if…
You need a source of funds for major home repairs or maintenance.
- When important home items fail, such as your HVAC system, you’ll have a source of funds you can draw from. A HELOC is also handy for expensive preventive maintenance, which can help avoid minor catastrophes.
You’re looking to consolidate debt.
- If you have credit card debt, or other high interest rate debt, you could use a HELOC consolidate that debt which would result in a lower interest rate.
You’re looking to take a vacation or other discretionary expenses.
- Simply need some extra cash to fund something fun? You may have a lot of equity in your home, and you can use a HELOC to extract some of that equity on a revolving basis, depending on your needs and credit limit.
Find a Southern Bank branch near you
Gadsden, AL
Address:
221 South 6th St
Gadsden, AL 35901
Phone Number:
(256) 543-3860
Business Hours:
Monday thru Thursday, 8:30 AM to 4:00 PM
Friday, 8:30 AM to 5:00 PM
Albertville, AL
Drive-Thru Only; Lobby Available by Appointment; Closed Daily 1-2 PM for Lunch
Address:
625 East Main St
Albertville, AL 35950
Phone Number:
(256) 878-0314
Business Hours:
Monday thru Thursday, 9:00 AM to 4:00 PM
Friday, 9:00 AM to 5:00 PM
Centre, AL
Address:
390 West Main St
Centre, AL 35960
Phone Number:
(256) 927-5588
Business Hours:
Monday thru Thursday, 9:00 AM to 4:00 PM
Friday, 9:00 AM to 5:00 PM
Guntersville, AL
Closed Daily 1-2 PM for Lunch
Address:
2204 Henry St
Guntersville, AL 35976
Phone Number:
(256) 582-3197
Business Hours:
Monday thru Thursday, 9:00 AM to 4:00 PM
Friday, 9:00 AM to 5:00 PM
Birmingham, AL
Commercial Finance Division
Address:
2151 Highland Ave
Suite 330
Birmingham, AL 35205
Phone Number:
205-868-1515
Business Hours:
Monday thru Thursday, 8:30 AM to 4:00 PM
Friday, 8:30 AM to 5:00 PM
