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Our current home equity program features a fixed interest rate for up to a 15 year term. The term is contingent on the amount borrowed and the credit quality of the borrower.
Loan amounts of $5,000.00 to $9,999.99 are financed for a maximum of 8 years.
Loan amounts of $10.000.00 to $50,000.00 are financed for a maximum of 15 years.
Fixed rates for 10 years or less and over 10 years to 15 years contingent on term selected.
Amounts in excess of $50,000.00 available with board approval.
Total mortgage limit, including first mortgage, is 90% of the appraised value of the home. Home equity loans are limited to the borrowers primary residence.
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