Home Equity Term
A closed-end loan that provides predictable payments and a fixed interest rate.
Put your home’s equity to work
When you know how much you want to borrow and want to use your home to secure the loan, a Home Equity Loan may be what you need. By borrowing up to 80% of the equity in your home, you can use the cash for whatever you like. Add an additional room or two to your house. Pay for your child’s college tuition. Go on a much-needed vacation. Or consolidate your debt. Whatever you decide, a Home Equity Loan is a sensible solution for covering large expenses.
- You can borrow up to 80% of the equity in your home, less any existing mortgages.
- For cash-out loans, get up to 75% of your home’s equity.
- Get a rate and payment that will remain the same during the life of your loan.
- You can establish a specific term so you’ll know exactly when your loan will be paid off.
- Interest may be tax-deductible.