How Does a Home Equity Loan Work?

A Home Equity Loan allows you to borrow against the equity you have in your home. You receive a lump sum of money and then repay your loan through equal monthly payments over a set number of years.

A Home Equity Line of Credit (HELOC) and a Cash-Out Refinance are two other types of loans used to access home equity. After you complete an online application, one of our knowledgeable Mortgage Loan Originators will review all of your options and help you select a loan to match your financial needs.

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How Can a Home Equity Loan Be Used?

The money from your Home Equity Loan can be used for many purposes, including the following:

• Home repairs, including a new roof, appliances or heating system
• Remodeling expenses for your home or backyard
• Major expenses such as college tuition, a wedding or vacation
• Real estate purchase of an investment property or second home

To learn more about Home Equity Loans, please call 1.888.546.2634 to speak with an experienced Mortgage Consultant.

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