Home Equity LOC

Our “Fixed For Five” Home Equity Line of Credit allows you to borrow up to 80% value of your home, less your outstanding balance on your first mortgage. It features a low rate for the first five years, adjusting twice yearly on January 1st and July 1st, to Prime Rate (as published n the Wall Street Journal).

 

 

 

 

 

 

Home Equity Line of Credit Benefits:

  • Big Borrowing Power – Borrow up to 80% of the value of your home (minus any existing mortgages).
  • Interest May be Tax Deductible – Consult your tax advisor for details
  • Low Variable Rate – that is set for the first five years at application
  • Minimum Line amount – $10,000
  • Maximum Line amount – $150,000
  • No Closing Costs

Loans are subject to credit approve, home eligibility, minimum and maximum loan amounts and home loan-to-value stipulations. Rates are subject to change without notice. NMLS #585840

Link to Rates

  • Income Verification: Bring your two most recent paystubs, W-2’s, social security or pension award letter, alimony etc.
  • Copy of Your Deed
  • Copy of Your Survey
  • Copy of Your Home Owners Insurance
  • Most Recent Tax Bills
  • All situations vary, additional documents may be required.