Home Equity Loans
Home Equity Loan
A home equity loan allows you to borrow against the equity you’ve built up in your home over the years through mortgage payments, your down payment, and any increased market value in the home. This value is used as collateral for a loan you can use for home renovations, a vacation, or high-interest debt consolidation.
- This fixed rate option is for borrowing with a lump sum disbursement. Fixed monthly payments make for easy budgeting.
- Competitive fixed rates
- Maximum loan amount of $175,000, or up to 85% of the value of your home, whichever is lesser
- Terms up to 15 years
Home Equity Lines of Credit (HELOCs)
A HELOC gives you the freedom to conveniently borrow against your credit limit—based on the available equity in your home—whenever you need it, like consolidating recurring loan payments, paying college fees, or paying off high interest credit cards. A ready source of emergency funds when you need it.
- Adjustable rate based on the Prime Rate
- Maximum loan amount of $200,000, or up to 85% of the value of your home, whichever is lesser
- 10 year draw period, 10 year repayment period
- Interest only during draw period
- Affordable Payments