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Home Equity Fixed

A fixed rate, fixed term loan that taps into your homes equity

  • Convenient & easy
  • Interest may be tax deductible
  • Low closing costs
                                                         

A convenient and economical way to borrow, based on the equity in your home. These loans may be used for almost anything (home improvements, education, vacation, consolidate bills, a new auto, etc.) and the interest may be tax deductible.

A one-time, fixed interest rate loan, for up to a 6 year term. Low interest rates and closing costs combine with the potential for tax deductibility to make this a great choice for many.

  • A fixed rate, one-time loan
  • Your credit limit is based on 80% of the value of your home minus the outstanding mortgage balance. 90% & 100% value loans are available at slightly higher rates
  • The monthly payment is based on loan term, interest rate, and loan balance. Up to 6 year terms are available
  • A mortgage will be filed for the amount of your loan
  • Only single family, owner-occupied properties are eligible
  • See our rate sheet for current rates
  • Consult your tax advisor about interest deductibility


Common Questions

Q. What if I already have a home improvement loan?  Can I get a home equity loan, too?
A. Yes you can, as long as your home has enough equity for the combination of loans you have against it.

Q. I own a small business.  Can I use a home equity line-of-credit loan to finance business-related expenses?
A. Yes you can, as long as the equity and property requirements are met. In fact, this type of loan is very popular with small business people due to it's flexibility and low cost