Access to cash when you need it

Home Equity Line of Credit (HELOC)

Put the equity in your home to work. A Home Equity Line of Credit can provide access to cash to pay for home improvement projects, unexpected emergencies and more.

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Key Features of a Home Equity Line of Credit

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The Cash or Credit You Need When You Need It

A WSFS Home Equity Line of Credit is a flexible, revolving line of credit available to you when you need it. No minimum draw required.

Interest-Only Payments

You pay only the interest on the money you borrow for 10 years (draw period) from the date the line is established.[1]

Option to Lock Your Rate

You can choose to fix the rate on all or a portion of your line, and keep accessing the rest of your available line of credit.

Included With Your Home Equity Line of Credit

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Competitive rates

Only pay interest on what you borrow while you put your line of credit to work.
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No minimum draw

Borrow only what you need when you need it up to your credit limit.
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Easy access

Access your line of credit simply by writing a check or using a WSFS HELOC Access Card.
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Online account access

View your loan balance, monitor transactions and make your loan payments.

Why Choose a Home Equity Line of Credit?

  • Home improvements: increase your home’s value with renovations such as a kitchen or bath remodel.
  • Large purchases: use your available line of credit to purchase a car, travel or for whatever is important to you.
  • Unexpected emergencies: have access to cash for unplanned events such as large expenses.
  • Debt consolidation: consolidate debt into one single monthly payment.
  • Pay off outstanding balances on high-interest credit cards.

Interest Rates

Sample Monthly Payment for a $200,000 advance: $1,375.00 estimated interest-only payment during the 10-year draw period.[2]
Loan amount Interest rate[3] Loan to value ratio[4]
$25,000 – $74,999 Prime + 1.25% Up to 85%
$75,000 – $99,999 Prime + 0.75% Up to 85%
$100,000 – $199,999 Prime + 0% Up to 85%
$200,000 – $1,000,000 Prime – 0.25% Up to 85%
$1,000,000.01 – $2,500,000 Prime – 0.25% Up to 80%

Home Equity Line of Credit Application Process

Once you complete your loan application online, you will be contacted by a WSFS Associate to guide you through the process of closing the loan.

Step 1: Select line amount

Minimum line of credit available is $25,000. Maximum is $2,500,000.

Step 2: Provide documents

Once we review your application and your credit history, you may need to provide income documents.

Step 3: Loan processing

WSFS will verify your income and your home’s value.

Step 4: Closing and funding

We will work with you to schedule your closing appointment when and where it is convenient for you.


Is there a potential tax deduction?

Yes, there could be a tax deduction. Please contact your tax adviser to verify if you’re eligible for a deduction.[5]

Which properties are acceptable collateral for an application?

Single family home, town home, twin home, row home, duplex, manufactured and condominium.

How do I lock in my rate?

A fixed rate lock gives you the flexibility to lock into a specific rate providing a consistent monthly payment. You can transfer all or any part of your variable-rate balance of $5,000 or more. To do this, please call 888.973.7226 or schedule an appointment with a WSFS Associate.

Does WSFS allow applications for Home Equity Loans/Lines of Credit on investment properties?

Yes, we allow applications on investment properties. Please contact your local banking office or call Customer Support for more information.

What is the difference between a loan and line of credit?

A loan is an amount of money that you borrow for a specified length of time. You will receive a one-time, lump sum that is then paid down with fixed monthly payments for the duration requested and agreed upon. A line of credit is a borrowing limit extended to you. The funds are available during the draw period up to the credit limit established. Monthly payments will be based upon the balance of the line of credit, and payments are variable and fluctuate with the Wall Street Journal Prime rate.

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Our friendly Associates are here to help 7am-7pm (M-F) and 9am-3pm (on weekends) at 888.973.7226, by scheduling an appointment or visiting the nearest WSFS Banking Office.