Money Line of Credit
An open-ended borrowing limit you can use whenever you need it, then repay and use again.
Rates change. See Current Rates for today’s figures.
A Line of Credit, Not a Loan
A Money Line of Credit establishes an open-ended borrowing limit that you can use whenever you need. It is not a lump sum you take once. You draw what you need, pay interest on what you have drawn, repay it, and the credit becomes available again.
What You Should Know
Open-Ended Limit
Establishes a borrowing limit you can use whenever you need.
Draw and Repay
Use it, repay it, use it again, without reapplying each time.
Interest on What You Use
Interest applies to the balance you have drawn, not the full limit.
Not Secured by Your Home
Unlike a HELOC, this does not put your house up as collateral.
What to Have Ready
A Waypoint lender will look at your income and your credit to set a limit. Once it is open, you do not need to apply again each time you use it.
- Proof of income
- An idea of the limit you want
Current Rates
Smart E-Loan
As low as
6.99%APR²
Home Improvement Loan
As low as
7.99%APR²
Credit Builder Loan
As low as
7.99%APR²
Personal Loan
As low as
9.49%APR²
APR = Annual Percentage Rate. Rates effective 16 September 2026 and subject to change without notice. Your APR may differ based on credit history, term, and other factors. Not all applicants will qualify for the lowest rate. Applicants consolidating debt add 1.00% to the personal loan base rate, not to exceed 17.99%.
Apply for a Personal LoanView all personal loan rates, terms and maximums
| Loan Type | Term (Months) | APR As Low As | Maximum Amount |
|---|---|---|---|
| Personal Loan | Up to 12 | 9.49% | $25,000 |
| Personal Loan | Up to 24 | 9.74% | $25,000 |
| Personal Loan | Up to 36 | 9.99% | $25,000 |
| Personal Loan | Up to 48 | 10.24% | $25,000 |
| Personal Loan | Up to 60 | 10.49% | $25,000 |
| Home Improvement Loan | Up to 60 | 7.99% | $50,000 |
| Home Improvement Loan | Up to 84 | 8.49% | $50,000 |
| Home Improvement Loan | Up to 120 | 8.99% | $50,000 |
| Home Improvement Loan | Up to 144 | 9.49% | $50,000 |
| Home Improvement Loan | Up to 180 | 9.99% | $50,000 |
| Smart E-Loan (CT Green Bank) | Up to 60 | 6.99% | $50,000 |
| Smart E-Loan (CT Green Bank) | Up to 84 | 6.99% | $50,000 |
| Smart E-Loan (CT Green Bank) | Up to 120 | 6.99% | $50,000 |
| Smart E-Loan (CT Green Bank) | Up to 144 | 7.49% | $50,000 |
| Smart E-Loan (CT Green Bank) | Up to 180 | 7.99% | $50,000 |
| Credit Builder Loan | Up to 12 | 7.99% | $5,000 |
| Credit Builder Loan | Up to 24 | 8.49% | $5,000 |
| Credit Builder Loan | Up to 36 | 8.99% | $5,000 |
| Money Line of Credit | Open end | 9.49% | $15,000 |
| Rapid Cash Short Term Loan | Up to 12 | 28.00% | $2,000 |
| Mashantucket Pequot Tribal Nation Loan | Up to 12 | 17.95% | $2,500 |
| Share Secured Advance | Up to 84 | 7.00% | 100% of shares |
| Certificate Secured Loan | Term of certificate | Certificate rate plus 3.00% | 100% of certificate |
Good to Know
Not secured by your home
A Money Line of Credit is not secured by your home.
Lower rate, different risk
The rate on a HELOC is usually lower, but the risk is different.
Talk it through with someone who lends here.
Local decisions. No obligation.
A short conversation before you apply tells you what you can realistically borrow and what it will cost in total. Book a time at any Waypoint branch, or start online and we will pick it up from there.
Important Disclosures
APR = Annual Percentage Rate. Rates are accurate as of 16 September 2026 and are subject to change without notice. Your APR may differ based on credit history, credit worthiness, collateral year, term of loan, loan to value, and fees that may constitute finance charges. Not all applicants will qualify for the lowest rate. Your actual APR will be included in the initial Truth in Lending disclosure.
Payment example: for a loan amount of $5,000 with an APR of 9.49% over a term of 12 months, the monthly payment would be $438.24.
Applicants consolidating debt add 1.00% to the personal loan base rate, not to exceed 17.99%.
Share secured and certificate secured loans and other flat rate loans are not subject to managed risk pricing.