A Home Equity Loan or Line of Credit can be a great way to pay for the home improvement you’ve been dreaming of or to consolidate bills under a low fixed interest rate with a consistent repayment plan.

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The loan borrows against the portion of your home that you own through appreciation and previous payments.

Things to Consider:

  • Home is loan collateral
  • Fixed interest rate
  • Fees for approval

Some Benefits:

  • Lump sum of money for home improvement, medical bills, other expenses
  • Fixed, monthly payment
  • Interest is tax deductible

Loan Rates (as of 07-01-2017)

HELOC Variable Rates (3.50% APR Floor)

DESCRIPTION LOAN-TO-VALUE APR (as low as)
Prime Equity Line of Credit Between 75.01 – 95.00% Prime*
Prime Advantage Equity Line of Credit Less than 75.00% Prime* -.50%

*Prime Rate as of 07-01-2017: 4.25% APR

APR = Annual Percentage Rate. Rates Subject to change. APR may be higher depending on your application.

 

Home Equity Fixed Rates

DESCRIPTION LOAN-TO-VALUE APR (as low as)
Fixed Rate Up to 84 Months Less or equal to 80.00% 3.50% APR
Fixed Rate Up to 180 Months Less or equal to 80.00% 3.50% APR
Fixed Rate Up to 84 Months Between 80.00% to 95.00% 4.00% APR
Fixed Rate Up to 180 Months Between 80.00% to 95.00% 4.00% APR

Prime Rate as of 07-01-2017: 4.25% APR
APR = Annual Percentage Rate. Rates Subject to change. APR may be higher depending on your application.

MORTGAGE DEPARTMENT INFO

Phone: 616.261.5657 ext. 155
E-fax: 616.588.6442
NMLS # 691882