Home Equity Loans
You've put so much into your home. Now your home can pay you back. A Home Equity Loan can give you the money you need to make home improvements, take a vacation, buy a new car, or pay for college. It’s a money-saving way to fund whatever you like, even take care of unexpected expenses or reduce your monthly payments by consolidating loans and other high interest debts.
- Loan funds from a Second Mortgage Loan are given as a lump sum and offer lower rates than most personal loans.
- Substantial tax deductions may apply (consult your tax advisor)
- Rate and payment amount never changes throughout the life of the loan.
If you prefer a revolving line of credit, consider a Home Equity Line of Credit.
This flexible, variable-rate loan lets you use the money when you need it and only make payments on what you use. So it's perfect for home improvements or college expenses.
- Lower rates than most credit cards.
- You can choose to pay interest only, or interest and principal, each month.
- Substantial tax benefits may apply.
- The funds are available whenever you need them -- and you make payments only on the amount you use.
- Flexible Terms: 10 year draw period | 15 year repay period following draw period