Home Equity Loan

HELOAN

This loan is a type of second mortgage that involves drawing a lump sum of money from the equity of your home.  Its disbursed to you in a lump sum only.  You can borrower funds to purchase another home, do home improvements, refinance debt, etc.  Once you close on this loan, you'll pay it back in regular installments over a set Term.  Terms available up to 30 yrs. 

Benefits:

• Interest Rates on this product are set at Fixed Rate for the life of the loan, so you can rest easy that your interest rate will never change.
• Lower Rates relative to other types of loans, especially unsecured loans.
• Long repayment timelines, this coupled with lower rates make payment more affordable.
• Potential tax benefits if the funds are used for home improvements.  Consult your tax advisor to see if your interest paid is tax deductible.

Contact us for more information.