Lines of Credit

The concept is straightforward. Our SimpleLOCTM Home Equity Line of Credit ensures that you have quick and easy access to money when you need it. This revolving line of credit is secured by your home and gives you the flexibility to write a check whenever extra cash is required. Opt to attach overdraft protection and automatic payment from your checking account, if desired, and pay interest and principal only on the dollars you use. Best of all, as funds are repaid, they're available to use again!

Common uses of a home equity line of credit

  • Unexpected major purchase
  • Ongoing home repairs
  • Emergency funds
  • Improving your home
  • Much needed vacation

What is a home equity line of credit?

A home equity line of credit (HELOC) is similar to a credit card in that you can borrow money, pay it back, and then it is available again. An important thing to realize with a HELOC is that the amount you borrowed is secured by your home, which is very different than a credit card.

Repayment terms of home equity lines of credit can vary so it's important to discuss your situation with a knowledgeable professional who can help you understand the differences in available options.

How does a home equity line of credit work?

It’s important to understand the intrinsic subtleties of using a home equity line of credit. The process starts with a simple approval process. Once you’ve been approved you are given access to the agreed amount of funds. The amount of available capital will fluctuate as you make purchases and/or payments on your loan.

This is the biggest difference between a home equity loan and a home equity line of credit. When you use a home equity loan you receive a lump sum payment and then begin making payments, much like a mortgage. With a home equity line of credit, you only borrow the amount of money you need at the time and only pay on the amount you’ve actually borrowed.

A benefit of using a home equity line of credit is the interest is often tax deductible. (It’s important to consult a tax professional to understand how this would affect your personal tax situation.)

Starting the home equity line of credit process

Getting started with a home equity line of credit is smart, easy and convenient.

Talk to a member of our lending team today! Call or visit a branch near you, or

Apply Online!


Subject to Bank's normal underwriting criteria.

Have a question or need information?
For Consumer and Residential Mortgage inquiries, requests for information or to report errors, please write to us at:

National Penn Bank  |  ATTN: Retail Loan Operations
P. O. Box 547  |  Boyertown, PA 19512

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