A home equity line of credit (HELOC) from IBC Bank is ideal for customers who have both a current borrowing need and would like the flexibility of a line of credit for future needs. A HELOC is a way to cover expenses for home improvements, education, vacation or the unexpected. Funds from their home equity line of credit can be accessed anytime you need them. Interest on their home equity line of credit is tied to a low floating rate, and may be tax deductible. The bank offer loans from $15,000 to $500,000, depending on the equity customers have in their home with terms range from 5 to 30 years. There are no penalties for prepayment of their home equity loan when customers borrow. Customers can borrow up to 50% of their home's value or a maximum combined loan-to-value of 80%.