If you need help with expenses, a home equity loan or second mortgage allows you to borrow against the value of your home to finance the expense. You can use the cash from a home equity loan for whatever you need:

• Automobile


• College education


• Credit card debt consolidation


• Down payment on a second property


• Home repairs/renovations


• Vacation
  

The loan process is similar to a first mortgage. You will receive the money in a lump sum, and you will make monthly payments of a set amount over a fixed period of time. Typically, you will continue to make your original mortgage payments along with payments on the home equity loan. Interest on the loan may be tax deductible*.

* Consult your tax advisor

We can tell you more about our home equity loans and home equity lines of credit.