Mortage and Home Equity
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You've worked hard to build equity in your home so don't be afraid to let it work for you. A Home Equity Loan or Line of Credit can have many uses:
- Home repairs
- Remodeling
- College tuition
- Dream vacation
- Debt consolidation
Home Equity Loans
A Fixed-Rate Home Equity Loan gives you a specific amount of money upon closing that you repay over 5 or 10 years.
- No closing costs
- No appraisal is necessary with a valid tax assessment.
- You may be able to borrow up to 80% Loan to Value.
- Minimum loan is a low $5,000.
- The interest paid may be tax deductible. (Consult your tax advisor.)
Home Equity Line-of-Credit
A Variable-Rate Home Equity Line of Credit (HELOC) allows you to borrow funds as you need them without going through the application and closing process.
- No closing costs
- No appraisal is necessary with a valid tax assessment.
- You may be able to borrow up to 80% Loan to Value.
- Minimum loan is a low $5,000.
- Convenience checks
- The interest paid may be tax deductible. (Consult your tax advisor.)
