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30-Due-in-20 Home Equity Loans
30-Due-In-20 Home Equity Loan

 

Primary Residence

With a Home Equity Loan, you borrow a set amount, receive the lump sum at funding, and pay interest on that full amount. Conversely, a Home Equity Line of Credit (HELOC) is a form of revolving credit where the funds are available to you to draw as you need, and you only pay interest on what you use.
 

Home equity loans can be taken out for almost any reason, from simple home improvement projects to remodeling, to helping pay for college expenses or going on vacation. How you use the money is up to you. However, borrowing too much of your equity can be detrimental if your home’s value falls — you’ll owe more than your home is worth.

Features

  • Available on single-family residences and condominiums (manufactured and mobile home properties are not eligible)
  • Lower payment for 30-year term results in a balloon payoff after 20 years
  • No lender origination fees1

Get Started

Online

Submit a Home Equity Loan Application

 

Call

Call 

 

800.462.8328, ext. 8288

Monday through Friday, 8 a.m. - 7 p.m.

Saturday, 9 a.m. - 3 p.m.

 

Term Interest Rate Annual Percentage Rate (APR) Maximum Loan Amount Maximum Combined Loan-to-Value (CLV) Estimated Initial Payment Per $1,000 Borrowed
30 due in 20 6.000% - 6.500% 6.000% - 6.500% $500,000 80%4 $6.00 - $6.322

 

Term Interest Rate Annual Percentage Rate (APR) Maximum Loan Amount Maximum Combined Loan-to-Value (CLV) Estimated Initial Payment Per $1,000 Borrowed
30 due in 20 6.250% - 8.000% 6.250% - 8.000% $100,000 90%5 $6.16 - $7.343
 

Disclosures

1Lender origination fees may be incurred if accommodation recording fees, title charges to clear or transfer liens, or indemnification due to construction on the subject property are required. The borrower is responsible for these costs. 

 

2At a rate of 6.375% APR, based on a typical loan amount of $50,000, the approximate payment is $312.12 for 239 months, with an approximate balloon payment of $27,797.21 to be paid or refinanced at the 240th month.

 

Eligibility for loan amounts exceeding $250,000 limited to detached single family or detached Planned Unit Development (PUD) properties.

 

3At a rate of 7.25% APR, based on a typical loan amount of $50,000, the approximate payment of $341.31 for 239 months, with an approximate balloon payment of $29,224.34 to be paid or refinanced at the 240th month.

The rate you may qualify for is based on factors including your credit rating and the combined loan-to-value (CLTV) of your property. A minimum credit qualifying score is required. Rates listed are effective as of date and subject to change without notice. The interest rate and payments are fixed for a term up to 20 years, fully amortized over 30 years with a balloon payment due at the end of the 20 year term. Payments do not include amounts for taxes and insurance premiums, if applicable, the actual payment obligation will be greater. An approved application is required for a rate to be locked. All loans subject to approval.

4CLTV range is 0% - 80%

5CLTV range is 80.01% to 90%

 

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