You’ve been building the equity in your home and now it’s time to put that equity to work for you. We offer competitive home equity products, which are secured by a mortgage on your home. The proceeds may be used for home improvements, debt consolidation, college tuition, vacations – it’s entirely up to you!
Home Equity Line of Credit
A revolving credit line that may be accessed by simply writing a check. You may borrow up to 80% of the value of your property minus the outstanding balance of the 1st mortgage.
Initial rate of 1.99% APR is for 12 months. Then, monthly adjustable rate equal to Prime Rate thereafter. Prime Rate is currently 3.25% APR. Maximum rate is 15% APR. Closing costs are $205.00. Homeowners insurance on the property securing the line is required.
Home Equity Loan
The security of a fixed-rate monthly payment loan with a one-time disbursement of funds. You may borrow up to 80% of the appraised value of your property minus the outstanding balance of the 1st mortgage.