Home equity products are available from $50,000 up to $1 million, depending on your home’s value and other factors. Good credit always helps, but there are good options for people with less than perfect credit too.

What’s the difference between a home equity line of credit and a home equity loan?

A home equity line of credit allows you to write checks or use a debit card to access a pre-approved loan secured by your home as you need or want the money. The required monthly payments are typically calculated as interest only, but of course you can pay the loan back down to a zero balance and start all over again. This flexibility typically lasts for 10 years, followed by payments of principal and interest until the loan is paid in full. The interest rate is variable and is usually equal to or tied to the Prime Rate.

A home equity loan, on the other hand, is a fixed rate product where you take the full loan balance in cash all at once.

We always welcome your call. When you have a simple question, when you want a personal consultation, or when you're ready to apply for new financing, please contact our office for friendly, impartial advice and information.

Here are some customer stories that help to illustrate today’s home equity lending flexibility in action:

›› Customer Story: Fast Home Equity Line of Credit with No Closing Costs



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