First Lien Home Equity Loan
This is the perfect loan for those with significant equity in their home wanting to refinance and take advantage of a lower rate and avoid the closing costs of a traditional mortgage refinance. If you owe less than $250,000 and have at least 20% equity in your home, we offer a First Lien Home Equity Loan. This is the perfect option if you:
- Have equity in your home
- Want a lower interest rate
- Want to avoid traditional closing costs
The reduced closing costs are quickly recouped, compared to the cost of refinancing into a conventional mortgage. There is an added benefit of seeing this loan on your regular statement: it can be viewed through our online and mobile banking site so you can make payments any time, and anywhere.
Review Your Options
We offer three types of home equity solutions, so you can be sure the product you choose will fit your financial needs. Not sure which is right for you? Review your options with our comparison chart below.
Loan Amount
Home Equity Line of Credit
Up to $200,000
Fixed Rate Home Equity
Up to $250,000
First Lien Home Equity
Up to $250,000
Value Required
Home Equity Line of Credit
Up to 80% of your home's value, less existing loan balances
Fixed Rate Home Equity
Up to 100% of your home's value, less existing loan balances
First Lien Home Equity
Up to 80% of your home's value
Features
Home Equity Line of Credit
- No annual fee
- Up to a 15 year draw period
- Take advances and make payments when needed, in person or through online and mobile banking
- No cancellation fee
Fixed Rate Home Equity
- No origination fee
- 5, 10 or 15 year repayment options
- One lump sum at a fixed interest rate
- Fixed payment of interest and principal over the life of the loan
- No prepayment penalty
First Lien Home Equity
- No origination fee
- 10 or 15 year repayment options
- One lump sum at a fixed interest rate
- May offer a lower rate and fewer closing costs than a traditional mortgage
- No prepayment penalty
Rates
Home Equity Line of Credit
Variable interest rate based on prime, currently 3.25% APR*
Fixed Rate Home Equity
Fixed rate based on term of loan, currently as low as 3.50% APR*
First Lien Home Equity
Fixed rate based on term of loan, currently as low as 3.45% APR*
Construction Loans
If you would rather build than buy, we can help! Financing is available for lot purchases and construction costs. Once your home is built, our Mortgage Officers can help secure permanent financing.
Protect Your Loan
Debt Defender is a voluntary loan payment protection product that gives you relief from unexpected financial burdens. Protected life events include disability, loss of life, and involuntary unemployment.