Home Equity

It’s time to benefit from your investment. Home Equity Loans and Lines of Credit are flexible tools to help you make the most of your home equity.

A home equity product is an excellent way to access your equity if you have a great rate on your first mortgage. Plus as an added bonus, the interest you pay on home equity products is generally tax-deductible. Check with your tax advisor for details.

Call today or apply online to find and lock in your best rate. We do things differently. We lock in your rate and fees so there are no surprises at closing. Learn more about our lock agreement.

Home Equity Line of Credit
Home Equity Loan
Line vs. Loan
Debt Consolidation

Home Equity Line of Credit

Access your equity—as much as you want, when you want— Advantages of a line of credit:

Pay interest only on the amount you withdraw
Checkbook/Credit Card provided for easy, convenient withdraws
Good safety net for unexpected expenses
Rapid Closings – Cash in as quick as 10 day

Home Equity Loan

A home equity loan is a one-time loan that locks in the interest rate and payment for the life of the loan.

Advantages of a home equity loan:

Fixed interest rate and monthly payment
Possibly tax deductible interest
Excellent option for debt consolidation
Lock interest rate at time of application

Comparing Home Equity Loans and Credit Lines

	Home Equity Loan	Home Equity Line of Credit
What you get	A single lump-sum payment for the full amount	A revolving source of cash that you can draw from as needed
How you use it	To finance large one-time expenses that have a definite cost	To finance ongoing expenses or miscellaneous purchases, like you would use a credit card
How you pay it back	Repay the full loan amount over a specific time period, at a fixed interest rate	Make payments on the outstanding balance, at a variable interest rate
Benefits	It offers simple repayment terms, and the security of knowing your payments will never increase	It is there when you need it, and you only make payments on what you use

Debt Consolidation

Swap high interest loans and credit card bills for one, reduced monthly payment.

Simplify your life and strength your credit report
Borrow up to 100% of the value in your home
Less-than-perfect credit options available

Loan Type	Balance	Typical Payment
Mortgage Loan	$84,300	$747
Car Loan	$18,500	$523
Credit Card #1	$1,858	$67
Credit Card #2	$5,000	$172

Sum	$109,658	$1,509
American Home Equity Payment		$759
American Home Equity Savings		$750

$759 American Home Equity monthly payment — $750 SAVINGS
See how much you can save now with our debt consolidation calculator.

Your Loan Experts

Home Equity

Home Equity Line of Credit

Home Equity Loan

Comparing Home Equity Loans and Credit Lines

Debt Consolidation