Home Equity Loans
Let the equity in your home work for you.
Fixed Rate or Line Of Credit?
Which loan type will work for you?
FIXED RATE HOME EQUITY
A home equity fixed rate loan you receive the money you are borrowing in a lump sum payment and you usually have a fixed interest rate and fixed monthly payments for a set term.
HOME EQUITY LINE OF CREDIT
A home equity line of credit (HELOC), you have the ability to borrow or draw money multiple times from an available maximum amount, usually by check, mobile app services, or digital banking services. Unlike a home equity loan, HELOCs usually have adjustable interest rate, typically based off the Prime Rate.
Home Equity Rates
Home Equity Rates
| Description | Term | Rates | APR | Payment per $1,000 | Maximum Loan Amount | |
|---|---|---|---|---|---|---|
| Home Equity Line of Credit | 7.250% | 7.250% | N/A | $250,000 | Apply Now | |
| Fixed Rate Home Equity Loans | 16-20 years | 7.500% | 7.500% | $8.06 | $250,000 | Apply Now |
| 11-15 years | 7.250% | 7.250% | $9.13 | $250,000 | Apply Now | |
| 6-10 years | 7.000% | 7.000% | $11.61 | $250,000 | Apply Now | |
| 1-5 years | 6.500% | 6.500% | $19.57 | $250,000 | Apply Now |
Additional Home Equity Information
Variable Annual Percentage Rate for HELOC based on The Wall Street Journal Prime Rate (7.750% effective as of 11/7/2024) minus 0.50% as published on the last business day of each month. Maximum APR 18.00% Minimum Floor Rate 3.50%
Maximum loan amount is $250,000. Homeowners insurance is required. Flood insurance may be required. Loan-to-value not to exceed 80%. Not available for homes currently for sale or to be sold within 6 months of closing.
Minor updates or major renovations ?
No more excuses and no more putting off that much needed house repairs. The equity in your home can finance your home improvements and major life expenses.
- Get prompt loan processing with convenient closing
- Two loan types are available. Home Equity Line of Credit or Fixed Rate Home Equity.
Your dream home awaits
If you are looking to invest in your dream home or luxury property, refinance existing homes with a mortgage greater than $548,250, we have the capability to finance luxury residential real estate in certain communities.
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