Home Equity Lines of Credit

Home Equity loans are typically second mortgage loans behind a fixed rate first mortgage loan used to finance personal purchases, pay off credit cards, and finance autos.

Our Home Equity Lines of Credits (HELOC’s) will have seven year maturities which automatically extend one year at a time past maturity if you do not call the note 30 days prior to maturity.

- Minimum line of $5,000.00.
- Maximum line will be 80% of the Estimated Fair Market Value or 80% of qualified appraisal.
- Repayment will be 2% of outstanding principal balance per month.
- Payment billed is due by the end of the month.
- The interest rate is variable indexed to the Wall Street Journal Prime plus 1.4%.
- There is a $25.00 annual membership fee payable annually after the first year.