HOME EQUITY LOAN - We offer five year fixed balloons that can be amortized up to twenty years with no closing costs for new loans over $10,000.

HOME EQUITY LINE OF CREDIT (HELOC) - The home equity line of credit is a flexible, revolving account using the equity in your primary residence as collateral. Once your line is established, you may advance up to your approved limit at any time for any purpose you wish, without having to go through the application process each time. As you make payments on your line, the principal you repay becomes available for you to advance again. The interest rate on this account is variable at 1% over prime and adjusts quarterly. There is no annual fee on this account. Closing costs for the line of credit are typically less than $100.00 and are paid when the line is established. The required monthly payment is calculated at 2% of the outstanding balance at the end of each month. The maximum credit line available is 80% of the market value of your home, less the principal balance outstanding on your first mortgage loan (if any).

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