Ka-Ching

Consolidate credit card debt, remodel the kitchen, or even buy a car with a home equity loan.

Ka-Ching

Consolidate credit card debt, remodel the kitchen, or even buy a car with a home equity loan.

Home Equity Loan

If you know how much you want to borrow and want a low, fixed rate over the life of your loan, a home equity loan is for you! We offer terms of 3 - 15 years based on your loan amount. Plus funds are disbursed in one lump sum after closing!

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Home Equity Line of Credit

A home equity line of credit (HELOC) offers you the flexibility and low rates you need for almost any purpose. A HELOC is a revolving line of credit that allows you to borrow over a period of time instead of in one lump sum.

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Use the table below to determine which option is best for you.

If you're looking for a home equity refinance, we offer those too!

	Home Equity Loan	Home Equity Line of Credit (HELOC)
Product	Fixed-rate, closed-end loan with equal payments over the term of the loan	Open-end variable rate loan, interest-only payments in 5 year draw period followed by a 10 year repayment period to repay the outstanding balance
Recommended for	Members who need a fixed amount, do not anticipate needing additional funds, and prefer a fixed rate and payment.	Members who are not sure what amount they want to borrow, anticipate needing various advances over an extended period of time, want the flexibility of accessing the funds when they need them and prefer a variable rate.
Payments	Equal monthly installments over a fixed period of time, terms vary from 3 to 15 years	First 5 years during the draw period, payments are equal to the greater of interest only or $25. After the draw period payments are substantially equal monthly installments over 10 years
Terms	3 years to 15 years, varies based on loan amount	5 year draw period, followed by 10 year repayment period
Loan to Value	80% of Fair Market Value, less any outstanding home liens	80% of Fair Market Value, less any outstanding home liens
Funds Distribution	Funds are disbursed in one lump sum at closing	Available funds can be accessed any time during the draw period
Minimum Advance	One-time lump sum request based on loan amount	Advances must be at least $4,000, there is no minimum or maximum number of advances
Tax Deductible Interest	Interest may be tax deductible. You will need to contact your tax advisor	Interest may be tax deductible. You will need to contact your tax advisor
	Learn More	Learn More

NMLS #469500 All lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.

To reach us, please call 800.322.2709 or email msc@advancial.org

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