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Compare Home Equity Loans

Home Equity Line of Credit

Is this option right for you?

Fixed Rate Home Equity Loan

Is this option right for you?

With a home equity line of credit, also known as a HELOC, you have access to a revolving line of credit based on the amount of equity you have in your home. A HELOC works similarly to a credit card, allowing you to borrow against your home's equity whenever needed. With a Home Equity Loan, also known as a second mortgage, you borrow a sum of money that must be repaid over a fixed period of time. Home Equity Loans typically start accruing interest immediately after the money is dispersed to the borrower.
Owner-occupied HELOC Loans offer: Owner-occupied Equity Loans offer:
Variable rates Fixed rates
Credit line from $10,000 to $300,000 Borrow from $10,000 to $300,000
Closing costs waived1 Closing costs waived1
Fast processing Fast processing
15-year term with 10-year draw period Terms up to 20 years2
Finance up to 80% of appraised value, less the mortgage balance Finance up to 80% of appraised value, less the mortgage balance
Appraisal fees may apply Appraisal fees may apply
Potential tax benefits - Check with your tax advisor Potential tax benefits - Check with your tax advisor

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1 For owner occupied properties only: If loan closed within 3 years, closing costs ranging from $485 to $1590 will be owed. Appraisal fee up to $425 may apply. Not eligible for 2nd mortgage if 1st mortgage has negative amortization feature. 2 Payment on a home equity loan at 6.45% APR for 120 months is $11.34 per $1,000 borrowed. APR accurate as of 5/1/2015. Payment does not include taxes and insurance premiums. Actual payment obligation will be greater. APR will be determined by the amount financed, loan term, and your credit history. All loans subject to credit approval and membership eligibility. Rates, terms, and conditions subject to change. Additional conditions apply.

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