Home Equity Lines of Credit and Home Equity Loans
Do you need to consolidate some debt? Use the equity that’s been building in your home to help combine multiple payments into one, or maybe you’ve decided not to move but need financing to build that addition or makeover the kitchen. Whatever the reason, our home equity line of credit or fixed rate home equity loan could be the perfect financing tool you need.
Keep in mind the interest you pay is typically tax deductible. (Contact your tax advisor about this potential money saver.) The line of credit taps into your home’s equity and offers low variable APRs, adjusting semi-annually. You may borrow up to 80% of the appraised value of the home, minus the balance or the first mortgage and any other outstanding liens. The rate is set according to the Wall Street Prime rate.
The Fixed Home Equity loan has limits up to 80% of the appraised value minus the first mortgage balance and any other outstanding liens. The interest on the Home Equity loan is a fixed rate.Go to main navigation