Home Equity Loans

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Home Equity Loans

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With no application fees and fast approvals, we have a variety of home equity loan options to fit your needs.

List of documents you will need to apply online.

When you’re ready, you can begin the process by applying online with your local Branch Manager. Here's some information we will need from you to start the process. Once the loan estimate has been received and you acknowledge your intent to proceed we will need:

  •  Copy of W-2 Form for prior two years
  • ­ Copy of most recent pay stub dated within 30 days of the application
  •  Copy of prior year personal Federal Tax Returns, including all schedules
  • ­ For self-employed: Copy of prior two years personal and business tax returns including all schedules
  • ­ For rental income: Copy of prior two years personal tax returns, includes all schedules.
  • ­ Copy of Pension and/or Social Security Award Letter (if applicable)
  • ­ Copy of current Real Estate Tax Bill
  • ­ Copy of Homeowner’s Insurance Declaration Page and Flood Insurance if applicable
  • ­ Copy of most recent two month of asset statements for 1st Position Fixed Equity (Actual Statements)
  • ­ Copy of Trust if property is held in Trust
  •  Copy of homeowners insurance binder

 *Additional documents may be requested.

**If you have a credit freeze, we will be unable to quote the applicable rate due to credit scores. The rate disclosed will be based on a credit score of 720 and above.

Click Home Equity Loan Checklist for a printable check list.

Want more information on our Home Loans? Check out this brochure!

  • Fixed Home Equity Loans

    Fixed Home Equity Loans feature a fixed interest rate, fixed term, and fixed amount. Fixed equities are typically used when you need a large sum of money for a specific project, such as renovating your kitchen or replacing your roof.

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    Fixed Home Equity Product Comparison Chart

    Fixed Home Equity Loans Fixed Home Equity First Position 

    Fixed Home Equity 1st or

    2nd Position 
    Expanded Equity (Fixed)
    Ideal for…Financing a small project or refinancing your mortgage to pay it off more quickly!Financing a project or purchase when you need to borrow a large sum of money.Financing a project or purchase when you already have a substantial mortgage balance.
    Lien Position1st and only1st or 2nd1st or 2nd
    Recommended Minimum$25,000$25,000$25,000
    Maximum Amount$250,000 $250,000$250,000 
    Up to ___% CLTV80% 80% 90% 
    Terms Available10 years 10, 15 or 20 years10, 15 or 20 years 

    How to Apply

    Contact a Branch Manager for more information or to find the program that’s right for you.

  • Home Equity Line of Credit (HELOC)

    Home Equities Document Check List A Home Equity Line of Credit (HELOC) is a revolving, variable rate loan. You apply for a credit limit, which can be accessed using LOC checks or transfers during the draw period. The draw period is the set period of time during which you may take advances from the loan. The minimum monthly payments during the draw period are interest-only and do not reduce the principal balance owed. The interest rate is a variable rate based on the Prime Rate in the Wall Street Journal. The floor rate is the lowest the interest rate can be at any time.

    HELOCs are best when you have multiple needs for cash in the future but don’t need to spend all the money at once – for example, planning several renovations over the next few years or paying tuition for several years. After the draw period, the loan goes into repayment, and no additional advances from the loan are allowed.

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    Home Equity Line of Credit Product Comparison Chart

    Home Equity Lines of CreditHome Equity Line of Credit 6 Month Home Equity Line of Credit SpecialExpanded Equity Line of Credit
    Ideal for…Financing projects or purchases over several years – or having the comfort of an emergency fund.Financing a short-term project or purchase. (Introductory low Annual Percentage Rate (APR) fixed for six (6) months.Financing several projects or purchases when you already have a substantial mortgage balance.
    Lien Position1st or 2nd1st or 2nd1st or 2nd
    Recommended Minimum$25,000$25,000 initial draw at closing required$25,000
    Maximum Amount$250,000$250,000$250,000
    Up to ___% CLTV80%80%90%
    Draw Period
    10 years5 years10 years
    Annual FeeNone$50 after 1st yearNone
    Floor Rate4.50%4.00%6.25%

    How to Apply

    Contact a Branch Manager for more information or to find the program that’s right for you.

Still have questions? Schedule a free consultation with one of our Branch Managers.

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