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Overview
Home Equity Loan 101
With your home’s appraised value as collateral, our home equity loan offers fixed interest rates and fixed payment amounts for up to a 20-year term. Plus, you can get every bit of your closing costs covered.
Use the equity you've built
For established homeowners with good credit, home equity loans are a safe, predictable way to live well now based on the equity you’ve built and earned to-date (good work on that, by the way). You can always make additional payments when the timing is right, and you’ll enjoy zero prepayment penalties for wrapping up your balance a little early. So go ahead: Make your day.
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Rates
Closed-End Home Equity Loan
Type Term APR* Closed End Home Equity Loan | Loan to value is less than 80% 5 Year Term 5.74% - 10.74% Closed End Home Equity Loan | Loan to value is less than 80% 10 Year Term 7.49% - 11.24% Closed End Home Equity Loan | Loan to value is less than 80% 15 Year Term 7.99% - 10.74% Closed End Home Equity Loan | Loan to value is less than 80% 20 Year Term 8.49% - 9.74% The Annual Percentage Rate (APR) you receive will be based on creditworthiness, loan to value amount, and loan term. Not all members will qualify for the best or lowest rate. All loans are subject to approval. Rates, terms, and conditions are subject to change.
Auto-pay Advantage: A discount of 0.25% will be deducted from the above stated annual percentage rates when the payment is received automatically from a Fortera draft account. This discount is only available on new loan transactions with an effective date on or after the date of this addendum. The annual percentage rate will default back to the normal rate in the event the payment status or draft account status changes.
Home Equity Loan Payment Example: For a $50,000 loan for a term of 10 years with a 5.49% APR, the monthly payment will be $542.45. Taxes and insurance premiums are not included in the payment, and the actual payment obligation may be greater.
