Home Equity Loans
It holds more than memories.
You’ve put a lot into your home over the years (that ding the kiddos left in the basement stairwell is particularly impressive). We’re here to help pull some of it back out. Whether you need to secure the funds to make long-overdue improvements or finance new experiences you won’t soon forget, you’ll enjoy fast turnaround times, friendly terms, and potential tax benefits*.
Home Equity Loan
Your home wants
you to be happy.
Choose from a variety of interest rates and terms while taking advantage of low closing costs and flexible repayment terms from 2 to 15 years.
Home Equity Line of Credit (HELOC)**
Let’s keep a good
thing going.
The ultimate in value and convenience. Access your credit limit, enjoy a low, minimum monthly payment (1% of loan balance+), then pay it off anytime and use again as needed.
HELOC 411.
Full disclosure: We love sharing important disclosure information. It’s how we start out on the same page and wind up with a loan everyone can live with. So, enjoy the read and let us know if you have any questions. We’ll try to keep our answers short.
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+ Payment estimate does not include taxes and insurance
+ Interest payments on home equity loans are tax deductible as defined by the federal government. Consult your tax advisor to determine the extent of your benefit.
+ The Home Equity Line of Credit has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum monthly payment can change as a result. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The index is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published daily in the Wall Street Journal. to determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index and then round to the nearest .001 percent. Ask us for the current index value, margin and annual percentage rate. After you open a line of credit, rate information will be provided on periodic statements that we send you. Click here for additional disclosure information on Home Equity loans.
+ You can obtain credit advances from you Home Equity Line of Credit for 10 years. During this period, payments will be due monthly. Your minimum monthly payment will equal 1.00% of the principal balance outstanding on the last day of the billing cycle. The minimum payment will be rounded to the nearest $0.01. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 10 years. If they are not, you will, to the extent permitted by law, be required to pay the entire balance in a single payment. Minimum Payment Example: If you made only the minimum monthly payment and took no other credit advance, it would take 10 years to pay off a credit advance of $10,000.00 at an Annual Percentage Rate of 3.75%. During that period, you would make 119 payments varying between $100.00 and $44.31, with a final payment of $4,413.89.
++ Rates are based on a 30-day lock.
++ A 0.75% origination fee and a $425 compliance fee will be applied.