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With our great automotive rates, refinancing your existing auto loan can help save on your monthly payment allowing you more money in your pocket to spend on home improvements. Home equity loans and lines of credit let you tap into your equity and use the cash for just about anything, such as home improvement projects, college tuition or debt consolidation. This is a fixed rate second mortgage with no closing costs. This is our standard fixed-rate loan that’s secured by your home. You borrow a lump sum all at once, and your monthly payment never changes for the life of the loan. Interest rates are lower than credit cards and other unsecured loans, so it’s a smarter alternative.
Choose a Home Equity Loan for home repairs and much more. This option gives you a lump sum to use, which is paid back in installments over a certain amount of time.
Home Loans
Competitive rates - You'll usually save big when comparing home equity rates to credit cards and personal loans. Unlike fixed loans, you don’t have to use the entire loan at once with Sunmark’s HomeFlex. You have the flexibility to use as much or as little of the line of credit as you’d like over a number of years. Sunmark’s HomeFlex provides a low fixed rate for the first five years of the loan, and you only pay back what you actually borrow. Line amounts of up to 85% of your property value available, with a renewable 5-year period to access your line prior to a 15-year period of repayment.
Borrow up to 100% equity for home improvements or other projects, and pay back only the portion of the line you use. Fixed home equity and home equity line of credit loans are resources for our members to borrow extra cash for home improvement, refinance, debt consolidation and other reasons. Borrow only as much as you need, when you need it. Maybe it’s time to finally clean up credit card debt, pay off medical bills or make those repairs around the house? A home equity loan can fund any of these – or pay for tuition, a wedding or other major expense. Do you have some equity in your home and are looking to add on, make some improvements, or just interested in consolidating existing debt to reduce financing costs?
A BETTER CHECKING EXPERIENCE
With a Home Equity Line of Credit, you can borrow against your home’s value to fund any number of improvement projects — and at a low interest rate. Use this calculator to compute the payment amount2 by adjusting the amount, rate and term. Celebrating a big event or planning a once-in-a-lifetime trip? With rates as low as 6.79% APR¹, you can do more with a Home Equity Loan from Firstmark! Accessing funds from your home’s equity helps you finance all your planned and unexpected expenses.
We've streamlined the entire mortgage process to bring you a faster way to finance your home. Whether you’re looking to refinance, buy your first home or build your dream home, we have loan options that will work for you. An option for borrowers who want to make small home improvements with little or no equity in their home. Borrow up to $25,000 – and enjoy a quick turnaround time that requires no appraisal.
How to Calculate Your Home Equity
A fixed-rate home equity loan may be the right product for you. When you open an account, you become a member of UW Credit Union. Your membership gives you access to better rates and fewer fees than you'll find elsewhere, plus a range of valuable discounts and services like free financial seminars and budget help.
Personal loans can be a great way to maintain or build one’s credit history while covering the cost of an unexpected expense. Find out if a personal loan is the right decision for you. Borrow a set amount of money to be paid back in equal payments for up to 20 years. Turn your extra garage space into a home office. Whatever you’re looking to do, one of the best ways to put money into your home is to use the money you get out of it.
Service Federal Credit Union We’re committed to personalized service that goes above and beyond what you’ll find at any other financial institution. Account Protection Your accounts are federally and privately insured up to $500,000. The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.
We offer several low-cost Home Equity Lines of Credit options designed to best fit your needs and your budget. Consult your tax advisor regarding the deductibility of interest. A home equity line of credit lets you borrow what you need, when you need it; you only pay interest on the money you withdraw within the first 10 years. Similar to the HomeFlex, the low rate remains fixed for five years. This line of credit offers a flexible option for homeowners who have little or no equity in their home.
1 Intro 3.99% APR available on loans for owner-occupied primary residences with loans up to 70% Loan-to-Value and credit scores of 680 or higher. Rate is locked for 12 months, then set at Prime (recently 7.50%) minus 0.50 percentage points, or 3.99% APR, whichever is higher. Rate is subject to change after 12 months from closing date, and thereafter on the first business day following any change in the Prime Rate as published in the Wall Street Journal. Additional introductory rates and loan programs may be available.
With lower rates and more flexible terms than most other loan types, home equity is often your smartest and best choice for financing. Due to inclement weather, our Berlin and Gorham branches will be closed today, December 17. Our Concord branch will also be closing at 1 p.m.
Visit one of our branch locations and talk to a Member Financial Representative. There are other ways to pay for your home improvement projects. With a home equity loan, you can use up to 80% of the current value of your home minus any liens against it. For example, if your home is appraised at $200,000 and you owe $100,000, you may have approximately $60,000 available in equity to use. While there are plenty of resources that explain what a home equity line of credit is and what you can use it for, you’re not alone if you still have questions. Find out how to keep your money safe, what type of accounts may be right for you and what basic banking lingo you need to know.
As always, you can bank with us anytime, anywhere with our mobile app or online banking. Explore ways to reduce the rate, term and payment of your current mortgage. 3 Payment factor does not include Credit Protection coverage. Credit Protection coverage is not offered on real estate secured loans.
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