Home Equity Line of Credit (HELOC)
Home Flex – Home Equity Line of Credit (HELOC)
Zero Closing Costs1
A Home Equity Line of Credit (HELOC) allows homeowners to borrow against the equity in their home as needed. With flexible access to funds and zero-dollar closing costs1, this option makes it easy to pay for home improvements, major expenses like a family vacation, or even to consolidate debt – the possibilities are endless with a Home Equity Line of Credit.
Home Flex – Home Equity Line of Credit Features
No Origination Fee1
Start your HELOC without upfront origination costs
No Appraisal Fee1
Save on upfront costs with no appraisal fee required as part of your HELOC
No Annual Fee for Year One
Enjoy added savings with no annual fee during your first year
10-Year Access Period
Draw from your available funds as needed for up to 10 years
Competitive Rates
Access funds with competitive rates designed to help you borrow confidently
Fast Approval Process
Move forward sooner with a streamlined approval process
About Home Flex – Home Equity Line of Credit
A great option for those who like flexibility and only paying the interest owed on the loan.
Apply for a Home Equity Line of Credit
Fill out an interest form or visit your local branch in Ohio, West Virginia, Kentucky, Virginia, Maryland or Washington, D.C.
Frequently Asked Questions
What is a HELOC, and how does it work?
A Home Equity Line of Credit (HELOC) lets you borrow against the equity you’ve built in your home. Instead of receiving a lump sum, you have access to a revolving line of credit you can draw from as needed during a set period of time.
How is a HELOC different from a home equity loan?
A HELOC offers flexibility, allowing you to borrow only what you need, when you need it. A home equity loan provides a one-time lump sum with fixed payments. The right option depends on your goals, timeline, and how you prefer to manage payments. Your local Peoples Bank team can help you explore and choose the right financing for your situation.
Can I use a HELOC for debt consolidation?
Yes, many customers use a HELOC to consolidate higher-interest debt. This can simplify payments and potentially lower overall interest costs, depending on your situation.
Is a HELOC a good option for home improvements?
A HELOC can be a practical way to fund home improvements, especially for projects completed over time. You can draw funds as needed and potentially increase your home’s value along the way.
What are HELOC rates, and how are they determined?
HELOC rates are typically variable and based on market conditions, along with factors like your credit profile, loan amount, and available home equity. At Peoples Bank, we take the time to walk you through your rate and what to expect over time.
Why choose Peoples Bank for a HELOC?
At Peoples Bank, we believe borrowing should feel personal—not transactional. Our team takes the time to understand your goals and guide you through your options, so you can make decisions with confidence.
Click here to find your local Peoples Bank branch.
How much equity do I need to qualify for a HELOC?
Most lenders require you to maintain a certain level of equity in your home, typically allowing you to borrow up to a percentage of its value. Our team will review your specific situation and help you understand what’s possible.
Can I apply for a HELOC online or in person?
You can start your HELOC interest form online (see above) to have a Peoples Bank associate reach out to you directly, or you can call or visit your local Peoples Bank branch to learn more. Either way, you’ll have a team ready to support you every step of the way.
How long does it take to get approved for a HELOC?
Approval timelines can vary, but because we work closely with you throughout the process, you’ll always know what to expect and what’s needed to keep things moving.
How can I access my HELOC funds?
You can transfer money directly from your HELOC to your Peoples Bank checking account, get a HELOC debit card or HELOC checks to make purchases.
NMLS#617258
1 Zero closing costs apply to Home Flex product only. Home Flex product contains an APR based on Prime, plus or minus a margin, that is variable and can change each month beginning with the first month. Available rates as of January 1, 2026 range from 6.75% to 9.75%. APR based on the consumers credit score and loan to value. As of January 1, 2026 an available rate for the Home Flex product was 9.75%. The APR for any equity plan will never be higher than 18.00% in WV; 24.00% in KY; 25.00% in OH; 24.00% in DC; 24.00% in MD; or Unlimited in VA. During the 10-year draw period, minimum payments cover interest only. At the end of the draw period, any remaining balance converts to principal and interest payments over the 10-year repayment period. Plan includes a $50.00 annual fee to maintain the account, if allowable by state law. There may be an early cancellation fee of 1% of the original commitment or the maximum of $1,000.00 if allowable by state law. Other conditions and restrictions may apply. Information is subject to change without notice. All loans subject to application, credit, and collateral approval. Consult a tax advisor regarding tax deductibility of interest and charges. Interest on the portion of the credit extension greater than Fair Market Value of the dwelling is not tax deductible for Federal income tax purposes.