Make Your Home Work For You

After you’ve built up some equity, your house can be the key to getting a low-cost loan that allows you to do all sorts of things that make a big difference in your life. 

Home Equity Loan

  • Straightforward loan (Lump Sum)

  • Fixed-rate, term, and monthly payments

  • Borrow up to 90% of your home’s appraised value¹

  • Use it for large purchases, weddings, remodeling your home, or consolidating your debt

Home Equity Line of Credit (HELOC)

  • Variable rate based on Prime Rate

  • For the first 10 years, borrow what you need, when you need it

  • For the last 10 years, you’ll pay off your loan

  • Borrow up to 80% of your home’s appraised value¹

  • Use it for unexpected home repairs, the kid’s college expenses, or anything else

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Home Equity

Everyone can use a little – or a lot of – extra cash at one time or another. You can use these funds for anything you want, including remodeling your home, buying furnishings, paying college tuition, or consolidating higher-interest debt. 

  • No closing costs, application, annual fees, or pre-payment penalties

  • Straightforward loan with a fixed rate, term, and monthly payments

  • Borrow up to 90% of your home’s appraised value¹ (less mortgage and liens)

 

Home Equity Line of Credit

It can be reassuring to know you have extra funds available whenever you need them, for any reason at all. You can draw on this credit line anytime you want to pay for special occasions, make a big-ticket purchase, or cover unexpected expenses. 

  • No closing costs, application, annual fees, or pre-payment penalties

  • No penalties for not using your line. You can keep it open for emergencies and use it when you need it

  • Line of credit up to 80% of the appraised value of your home¹ (less mortgage and liens)

  • Payment based on as little as 1.35% of your outstanding balance

  • Individual loan rates tied to the Prime Rate, your creditworthiness, and credit score

  • Access funds through Online Banking or at an Advantage One branch

  • Tap into the money for 10 years, and then you have 10 years to repay what you owe

¹Borrow up to 80% (up to 90% for Home Equity Loans) of your home’s appraised value (less mortgage and liens). All loans are subject to approval. Rates, terms, and conditions are subject to change. 
FEES AND CHARGES: If you disagree with Advantage One’s assessment of your home value, you may elect to get an additional appraisal to determine the value of your home, you will be responsible for the cost of this appraisal. The typical cost of an appraisal is estimated at $500.