Home Equity Options

Large expenses, like a major home improvement,
or you want to consolidate debt

Recurring expenses, such as home renovation
or home improvement costs

One lump sum when you get the loan

Use as needed, up to an approved credit limit

Fixed amount

Variable amount

$0

$0

As low as 7.50% APR ? fixed rate

Introductory rate of 5.49% APR? for the first 12 months and then after that, a variable rate ranging from 6.75% – 18% APR based on the Prime Rate and other criteria

On the full loan amount

Only on the outstanding balance

Borrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.?

Borrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.?

5, 10, 15 or 20 years

10-year draw period and 10-year repayment period