The Bank at Broadmoor offers a Home Equity Line of Credit (HELOC), with competitive rates tailored to your needs. During the first five years it’s an interest-only loan, so your monthly payment is substantially lower during that period. Interest rates for our HELOC are based on the value of your home and your credit rating. Funds from the loan can be used for debt consolidation, college tuition, purchase of an automobile, home improvement projects or other expenditures.