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.