Financial opportunity starts at your front door. Use the equity you’ve built to finance any expense that comes your way.
- Competitive Rates
- Local Processing
- Preferred Equity Perks
- Convert the equity in your home into cash you can use
- Competitive rates for several short-term or one-time needs:
- Education expenses
- Major life events
- Home remodel projects
- Debt consolidation
- And much more
- The existing equity in your home is used as collateral backing
- Accommodating repayment terms that work uniquely for you
- The interest paid might be tax deductible1
- Expedited application for members with Preferred Equity
- Quick, local decision-making and processing
- Attentive, friendly service from start to finish
- $75 Application Fee
- Proof of homeowner’s insurance with a maximum deductible of $500. The amount the home is insured for must be at least the total amount of the outstanding mortgage plus the home equity.
- The Title Search on the property (blue book)
- A copy of the current taxes
- A copy of the deed
- Proof of income
- A statement of all current mortgage holders to verify balance owed
Estimated Fees for Home Equity & Non-Owner-Occupied Equity Loans
Appraisal Fee: $390 - $550
Closing Costs: Closing costs vary depending on the amount of the mortgage. Typically, costs include attorney fees, property search, preparation and recording of mortgage, mortgage tax, and special mortgage tax exemption affidavit.
1Consult a tax advisor.