As a qualified homeowner, you can capitalize on the equity you’ve built in your home with a home equity loan or home equity line of credit. It could be one of the smartest and simplest ways to get the money you need to do the things you want. When you’re considering a home equity loan, there are many things you need to consider; how much money you need, what you need the loan for, what payment amounts can you afford, etc. Whether you want to make home improvements, refinance an existing mortgage or home equity loan, consolidate debt, or take a dream vacation, the first step is finding a loan that’s right for you. Go to our Online Mortgage & Home Equity Lending Center for more information and to view our educational resources.
Home Equity Loan
Borrow a defined amount for a specific period of time. Your payments and your rate are fixed, so you’ll have the stability of knowing what your payments are each month. And, interest may be tax deductible, consult your tax advisor.
- Fixed interest rate
- Fixed monthly payment
- Flexible repayment terms
- $10,000 minimum loan
- No closing costs
- 1-4 family owner occupied (no condos)
Equity Advantage Line of Credit
Our EquityAdvantage home equity line of credit is a variable rate revolving credit line. Use your line simply by writing a check to access cash as needed. Our EquityAdvantage account lets you fix a portion of your outstanding home equity line credit (if you choose). You choose the terms for each Fixed Rate Loan Option to fit your needs. In other words, you’re in control! And, interest may be tax deductible, consult your tax advisor.
- Access funds by check
- $45 annual fee (waived for first year)
- $10,000 minimum line
- Flexible payment options
- Fixed Rate Loan Option – fix all or a portion of your outstanding line balances
- 1-4 family owner occupied (no condos)
Not sure which home equity product is right for you? To learn more about the differences between home equity loans and lines, view our comparison chart, visit your local branch, or call us at 860.889.7381. We’re here to help!