Second Mortgage loans: for home improvement, college tuition, or any other need you may have.
- Fixed rates with flexible terms and payment dates
- Allows you to borrow up to 100% equity
- Tax deductible interest*
*Consult your tax advisor.
Fixed Rate Mortgages
Long term fixed rate mortgage in which the interest rate and payments remain constant for the term of the loan. These loans are sold to secondary market.
Adjustable Rate Mortgages
Loans that are tied to the U. S. Treasury Bill rates.
Construction Loans
Loans for the construction of a new home or an extensive remodeling project that will result in a refinance of the original loan. After the construction period, this loan must be converted to a long term fixed rate mortgage or an “in house” mortgage.
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) can be a huge savings advantage for your loan needs. This type of loan provides large amounts of cash at low interest rates. A HELOC is secured by a mortgage or deed of trust on your personal property.
Access to your money is as convenient as writing a check or transferring funds to your account. These purchases can be for home improvement, major purchases, educational costs, paying off high interest credit cards, or an automobile purchase.
Advantages:
- Re-usable credit
- Lower closing costs
- Faster processing time from application to close
- Extremely flexible
- Prime rate is fairly stable
- Tax deductible interest *
- Maximum property value of $200,000
- Total loan value equal to or less than 80%
*Consult your tax advisor.
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