What’s the best home equity loan option for me?

We know there’s no one size fits all home equity loan option. Perhaps you’re looking to consolidate debt or you’d like to make home improvements but have little to no home equity. Whatever your situation, we’re here to let you know there’s always an option.

Want to make home improvements but have little to no home equity?

We recommend a Future Value Home Equity Loan.

Also known as a construction loan, our Future Value Home Equity Loan (FVHE) uses the appraised future value of your home—with the estimated improvements included—to get you the loan you need. So, whether your home is a fixer upper or you’re building additional space for a growing family, you can borrow up to 90% of the future value with loans from $25,000-$100,000 and a 20 year repayment term.

Need to consolidate debt or pay for a large upcoming expense?

We recommend a Flex Equity Loan.

Like it’s namesake suggests, it can be used to make home improvements, consolidate debit, pay medical expenses, and more! You choose what your equity is used for. With a flex equity loan you’re guaranteed a non-variable fixed-rate for the first 5 years and your rate cannot increase more than 2% per year. Plus, you can borrow up to 90% of the value of your home for $10,000-$1,000,000.

Looking for a lump sum loan with a great low rate?

We recommend a Conventional Equity Loan.

A conventional equity loan is the most common home equity loan. Like the Flex Equity, you can use a Conventional Equity loan to consolidate debt, make repairs, or pay for college tuition, and you can borrow up to 90% of the value of your home for $10,000-$1,000,000. However, unlike a FVHE or Flex Equity which offers a fixed-rate for the first five years and then a variable rate thereafter, a conventional equity loan offers a low fixed-rate for the life of the loan. Plus, it offers optional repayment terms of 5, 7, or even 10 years.

Want to use the equity you need as you go?

We recommend a Home Equity Line of Credit (HELOC).

Similar to a credit card, a HELOC gives you access to a line of credit when you need it. You can borrow from the line of credit as often or as much as you need to during the first 10 years and you’ll have 20 years to repay it. That means, you’ll receive a great low rate and a lower monthly payment. So, whether you’re updating one room or four, you can take the time you need to make the repairs.

To learn more about these products, simply check out the links or schedule a free no obligation consultation with one of our home loan experts to get started!