HOME EQUITY LINE OF CREDIT
Looking to purchase that big ticket item? The funds you need may be right in your own backyard – or closer! Many of our satisfied members have used home equity loans for:
- College tuition
- Purchase a car
- Pay for car repairs
- Funeral expenses
- Vacation
- Pay off higher rate loans
- Home improvement
Borrow up to 80% of the equity in your home minus first mortgage balance.
For example: If a home is valued at $200,000 and the remaining mortgage balance is $100,000, we would lend up to $60,000. ($200,000 x 80% = $160,000 – $100,000 = $60,000)
- May be tax-deductible*
- Variable rates
- Minimum loan amount $5,000
- Quick turnaround time!
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