Home Equity Center
Home Equity Line of Credit vs. Fixed Home Equity Loan
Thinking of doing some home improvements, making a major purchase, funding education expenses, or any other use you have for additional funds? Tapping into your home's equity may be the answer. Home Equity Financing can be set up as a Loan or a Line of Credit.
A Fixed Home Equity Loan advances the funds in a lump sum upfront. Payments are equal amounts over a set period of time until the loan is paid off.
A Home Equity Line of Credit (HELOC) is a revolving variable rate account. You have a draw period with a set credit limit. If you still have a balance at the end of the initial draw period you will have a repayment period to pay off the balance.
Contact our mortgage specialists today to learn more about our Home Equity Programs.
Resources
Not all online information on mortgage loans and the home-buying process is accurate. The following websites provide reliable facts about credit, debt, successful personal financial management and the home-buying process.
