Line of Credit Sweeps
A Line of Credit Sweep makes your life easier by automatically transferring money as you need it. First American offers two types of Sweep products.
One-Way Sweep: Transfers money from your line of credit to your checking account when your balance drops below a predetermined level, protecting you from overdrafts or maintaining your account with the amount of cushion you prefer.
Two-Way Sweep: Not only transfers money into your checking account when it drops below a certain level, it also transfers money out of your checking account when it exceeds a pre-determined amount and uses it to pay down any outstanding principal on your line of credit.