Select Page

No one knows what the new year will bring, but at Fidelity Bank & Trust, we want you to be as financially prepared as possible for anything that might come your way.

One way we can do that is by offering you a Home Equity Line of Credit or a HELOC. Kris Gobeli, NMLS #445841, a lender in our Anamosa branch, explained the features of a HELOC.

“A Home Equity Line of Credit (HELOC) is a revolving product that allows you to borrow against the equity you have in your home,” Gobeli said. “There igobelis a limit to how much you can borrow and that is determined at the time of your closing.”

Although a HELOC has the word ‘home’ in its title, you can use the borrowed money for anything you need.

“I have customers that use a HELOC for home repairs and home improvement and others who use it for their child’s college education or emergencies,” she explained.

While Gobeli does recommend that you maintain the equivalent of 3-6 months of expenses in your savings account for emergencies, a HELOC is another safety net of sorts.

“Be proactive and open a HELOC before you need it,” she recommended. “That way, when you do need the money you can log in to Fidelity Online Banking, click ‘Transfer,’ and have the funds immediately. It can reduce at least one stressor in a potentially stressful situation.”

Another reason to open a HELOC at Fidelity is the convenient and personalized service you’ll receive.

“When you open a HELOC with us, you always see the same person,” Gobeli said. “The people who come in to see me typically opened their first mortgage with me, too. I help them every step of the way. They’re never passed around.”

If you have more than $10,000 of equity in your home, there are low cost or no-cost options associated with your HELOC and you can expect a low introductory interest rate. Come see us to learn more about how to financially prepare yourself for 2018.

“We’re a local bank but we can offer big bank services to the people we know,” she explained. “I love seeing my customers around the community.”

Member FDIC. Equal Housing Lender.