![](/assets/files/nT7cnbfZ/Subhead_Mortgage_HouseKeys.jpg)
![](/assets/files/nT7cnbfZ/Subhead_Mortgage_HouseKeys.jpg)
Adjustable Rate Mortgage
and Home Equity Line of Credit
and Home Equity Line of Credit
Disclosures
What is a Home Equity Line of Credit?
A home equity line of credit (HELOC) is a loan that allows you to borrow, spend, and repay as you go, against the equity in your home. Borrowers can use HELOC funds for a variety of purposes, including home improvements, major purchases, taking a dream vacation and the consolidation of high-interest credit card debt*.
*The benefits of a HELOC for debt consolidation depend on your individual circumstances. Because a HELOC may have a longer term than some of the debt you may be consolidating, you may not realize a savings over the entire term of your new HELOC. Consolidating federal loans may eliminate important protections and benefits.
- Home Equity Line of Credit Disclosure | Florida - What You Should Know About Home Equity Lines of Credit
- Home Equity Line of Credit Disclosure | Illinois, Indiana and Missouri - What You Should Know About Home Equity Lines of Credit
What is an Adjustable-Rate Mortgage?
An adjustable-rate mortgage, or ARM, is a mortgage loan with an interest rate that changes during the life of the loan according to movements in an index rate. Sometimes called AMLs (adjustable mortgage loans) or VRMs (variable-rate mortgages).
With an adjustable-rate mortgage (ARM) you can typically enjoy a lower rate and monthly payment during the initial rate period compared to fixed-rate loans. After the initial fixed rate period, your rate and payment could increase. See the program disclosure for details on how and when the rate could increase.
View the Consumer Handbook on Adjustable Rate Mortgages
from the Consumer Financial Protection Bureau.
from the Consumer Financial Protection Bureau.
ARM Disclosures Types
Conforming Products
(up to $726,200 loan amount)
Jumbo Products
(over $726,200 loan amount)
Construction Products
Specialty Loan Products
Home Equity Loan Products
Subject to Credit Approval