How It Works
If you’re thinking about making some home improvements or looking at ways to pay for your child’s college education, a home equity product might be right for you. Home equity is the difference between what your home could sell for and what you owe on the mortgage. Because Equity Loans and Home Equity Line of Credits are secured by your home, you’re more likely to get a lower interest rate and better payment terms than you would with a traditional installment or consumer loan.
Home equity financing can be set up as a closed-end loan or a line of credit. With a closed-end Home Equity Loan, we advance you the total loan amount upfront, while a home equity credit line provides a source of funds that you can draw on as needed.
Home Equity
Borrow a lump sum up to 80% of your equity
Repayment terms up to 15 years
Low fixed rates as low as 5.99% Interest Rate
Enjoy the benefit of tax-deductible interest *