Home Equity
Home equity loans are a great way to put the power of your home to work for you. It's a loan that allows you to tap into the value of your property by borrowing against the difference between the market value and how much you still owe, if anything. In some case, that can be a lot of cash! And the interest you pay on a home equity loan may be tax-deductible, ask your tax professional for details. Use it for home repairs, college expenses, a new car or a vacation. Use our online calculator to get a sense of the value in your home, then contact a home lending specialist today!
95% Home Equity Loan/Line of Credit
- Available as a fixed rate loan or a variable rate line of credit
- Allows you to borrow up to 95% of the value of your home
Payment terms offered:
- A maximum term of 60 months and a maximum amortization of 240 months are available for the closed-end home equity loan.
- A 60 month draw period in which interest only payments are required applies to the open-end home equity line of credit.
Home Equity Line of Credit
- This is a variable rate revolving line of credit, drawn upon as needed
- Allows you to borrow up to 90% of the value of your home
- A 120 month draw period applies to this loan in which interest only payments are required.
Home Equity Term Loan
- This is a fixed rate closed-end loan, disbursed in a single advance
- Allows you to borrow up to 90% of the value of your home
Payment terms offered:
- A maximum term of 120 months and a maximum amortization of 360 months are available for the closed-end home equity loan.
