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Ka-Ching

Consolidate credit card debt, remodel the kitchen, or even buy a car with a home equity loan.

Ka-Ching

Consolidate credit card debt, remodel the kitchen, or even buy a car with a home equity loan.

We offer home equity loans and home equity lines of credit so you can choose which option works best for your and your home's needs.

Home Equity Loan


If you know how much you want to borrow and want a low, fixed rate over the life of your loan, a home equity loan is for you! We offer terms of 3 - 15 years based on your loan amount. Plus funds are disbursed in one lump sum after closing!

 

Home Equity Line of Credit


A home equity line of credit (HELOC) offers you the flexibility and low rates you need for almost any purpose. A HELOC is a revolving line of credit that allows you to borrow over a period of time instead of in one lump sum. 


 

Use the table below to determine which option is best for you.


If you're looking for a home equity refinance, we offer those too!
 
  Home Equity Loan Home Equity Line of Credit (HELOC)
Product Fixed-rate, closed-end loan with equal payments over the term of the loan Open-end variable rate loan, interest-only payments in 5 year draw period followed by a 10 year repayment period to repay the outstanding balance
Recommended for Members who need a fixed amount, do not anticipate needing additional funds, and prefer a fixed rate and payment. Members who are not sure what amount they want to borrow, anticipate needing various advances over an extended period of time, want the flexibility of accessing the funds when they need them and prefer a variable rate.
Payments Equal monthly installments over a fixed period of time, terms vary from 3 to 15 years First 5 years during the draw period, payments are equal to the greater of interest only or $25. After the draw period payments are substantially equal monthly installments over 10 years
Terms 3 years to 15 years, varies based on loan amount 5 year draw period, followed by 10 year repayment period
Loan to Value 80% of Fair Market Value, less any outstanding home liens 80% of Fair Market Value, less any outstanding home liens
Funds Distribution Funds are disbursed in one lump sum at closing Available funds can be accessed any time during the draw period
Minimum Advance One-time lump sum request based on loan amount Advances must be at least $4,000, there is no minimum or maximum number of advances
Tax Deductible Interest Interest may be tax deductible. You will need to contact your tax advisor Interest may be tax deductible. You will need to contact your tax advisor
  Learn More Learn More
NMLS #469500 All lending products are subject to credit and property approval.  Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.

To reach us, please call 800.322.2709 or email msc@advancial.org

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