If you are a homeowner, you might be considering how the equity in your home might be a good source of financing to help pay for college, make home improvements or even help simplify debt.

With all of the available choices, it can be difficult to find the right fit for you and your situation. Here are some important things to keep in mind as you consider how a home equity loan could help you with your financial goals.

What's the annual percentage rate (APR)? 

Is there an origination (application) fee?

How much will the appraisal cost?

Are there other upfront fees you will need to pay? 

Are there prepayment penalties?

 % Loan to Value (LTV) the institution is willing to finance (80%, 85%, 90%)

Other items to consider from a line of credit perspective:

Is there an annual fee?

Length of draw period--or how many years you have the open line available to you

Length of the repayment period

Minimum monthly payment calculation

Our two home equity options are the perfect way to tap into this potential source of funding. Regardless of the option you pick, you’ll enjoy no appraisal, annual or application fees.

SEE RATES & OPTIONS



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