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Home Equity Options

Your Home, Your Equity, Your Story.

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Learning to leverage your home's equity is a great way to boost your quality of life, secure investment opportunities, and enjoy milestone events. However, you may not necessarily be aware of all your options or what it means to use your equity to secure a high-value loan.

Home Equity Loans

Home equity loans are excellent lending options if you are looking to finance a large one-time event, such as a wedding, vacation, or vehicle purchase.

Some additional features that accompany the withdrawal of a home equity loan include:

  • Fixed interest rates
  • Set monthly bills
  • Lump-sum payout
  • Long repayment terms

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Home Equity Line of Credit (HELOC)

Unlike a home equity loan, a HELOC is a revolving line of credit that offers both fixed and variable interest rates. This equity option provides funds where and when you need them and are used to finance events with uncertain time frames or price points.

You would choose to take out a HELOC if you were planning to finance your child’s college tuition, remodel your home, or complete a large-scale project over time.

Benefits of a HELOC include:

  • Lengthy withdrawal period
  • Loan to value (LTV) ratios according to your mortgage and home value
  • Low 6-month intro rates
  • Low variable APR rates

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*APR is Annual Percentage Rate. Home Equity Line of Credit is a fixed rate for 6 months. Home must be under 80% Loan-to-Value (LTV). After 6 months, your rate will revert to the current stated rate, which is 4.99% APR/Variable, as of January 1, 2021. This is our best rate; your rate may be different depending on credit score and underwriting criteria. Rates and offer subject to change. Membership eligibility is required.