Home Equity Loan
If you have some equity built up in your home, consider using it for expenses such as home repairs, vacation or unexpected expenses. What you use the cash for is up to you. With a home equity loan¹ you get all the cash up front and repayment amounts and interest is fixed.
- Experienced loan officers that can help you through every step of the process
- Local processing of your loan documents
- Variety of term and rate options are available
- Calculators to help you determine what you can afford and monthly payment scenarios
Home Equity Loan vs. Home Equity Line:
Look at a home equity loan as a second mortgage on your home. You receive your proceeds in one lump sum and you make fixed monthly payments.
A home equity line is a revolving line of credit that allows you to utilize the limit as you need it. Lines require monthly payments and interest is charged only on the amount that is advanced - the line is very similar to a credit card.
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