Our “Fixed For Five” Home Equity Line of Credit allows you to borrow up to 80% of the 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 in 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 approval, 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.