Home Equity Loans
"Whether I need to make a home repair or large purchase, it’s on the house."
If your home is worth more than you owe on it, you may be able to borrow against that equity for the money you need.
Because Home Equity loans use your home as collateral, you may receive a better rate than other types of loans.
A line of credit provides you with access to a sum of money to use, bit-by-bit, as you see fit. Pay back. And use again if you’d like.
They are ideal for renovations, debt consolidation or large purchases.
80% or less CLTV (Combined Loan-to-Value)
Subject to credit approval and must be borrower’s primary residence. Home Equity loans are also subject to acceptable property appraisal and title search. Minimum Line of Credit amount is $10,000 to a maximum of $100,000. Minimum advance amount of $200.
Fees: Appraisal fees range from $350-$400; Title fees: $95
Ideal for renovations, debt consolidation or large purchases.