Home Equity Loan: Unlock the Value of Your Home
Program Summary
A Home Equity Loan allows you to borrow against the equity you’ve built in your home, providing you with a lump sum of cash for various financial needs. Unlike a HELOC, a Home Equity Loan offers a fixed interest rate and predictable monthly payments, making it an excellent choice for large, one-time expenses like home renovations, debt consolidation, or education costs.
Key Benefits
- Fixed Interest Rate: Enjoy predictable monthly payments and protection from rate increases.
- Lump Sum Payout: Receive the full loan amount upfront for immediate use.
- Lower Interest Rates: Typically lower than credit cards or personal loans.
Program Details
- Eligibility: Requires sufficient home equity (usually 15–20% equity is needed).
- Loan Amount: Based on your home’s value and the remaining balance on your mortgage.
- Repayment Terms: Fixed terms ranging from 5 to 30 years.
Who Is This Program Best For?
- Homeowners planning large, one-time expenses like major home improvements or college tuition.
- Borrowers consolidating high-interest debt into a single, manageable payment.
- Individuals who prefer the stability of fixed monthly payments.
Next Steps
Interested in tapping into your home’s value with a Home Equity Loan? Contact us today to learn more and get started on your financial goals.