Finance with flexibility
One product, multiple options: credit line, fixed rates, or both. Our most popular loan product gives you the best of all worlds. Use your line of credit as you see fit and carve out fixed-rate loans at the same time.
Through this hybrid account, you receive a Home Equity Line of Credit (HELOC). Similar to a credit card, you take out money as needed and pay interest on the funds withdrawn.
If you want, Loan in a Line gives you the option to convert any or all of your HELOC balance to a fixed rate loan — without an application, appraisal fees, or wait times. This can mean a lower interest rate and the ability to take advantage of our automatic payment deduction.
This product is available to residential homeowners 18 years of age with sufficient equity in their homes that qualify by meeting AmeriServ established lending criteria.
Yes. The minimum line amount is $10,000.
You may choose to take up to 9 carved out subordinate fixed rate loans over the life of the account, with a low $5,000 minimum for each carve out.