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Insights & Stories

What is a Fixed Rate Loan Option?

Watch time: 2 minutes

July 7th, 2021

If you've got a home equity line of credit (HELOC), you probably enjoy being able to tap into the equity in your home whenever you need, with flexible, interest-only payments. But did you know that you could convert all or part of your HELOC balance into a fixed rate loan option, or FRLO? It's one of the great features of a Bankoh Home EquityLine, and we've got a quick explanation of how a FRLO works. This video explains the main benefits it offers, including locking in a low fixed interest rate and setting up a predictable, monthly repayment schedule over a set period of time. 

 

If you're a Bankoh Home EquityLine customer, and want to learn more about how a FRLO could work for you, book an appointment with one of our lending experts today!

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