HOME EQUITY LOANS
Put the equity in your home to work for you with a home equity loan. You will find our rates competitive and our repayment terms flexible. Loans are available for up to 100% of the appraised value of your home, with a wide range of terms available.
There are two types of home equity loans for you to choose from depending on your needs:
Fixed Home Equity Loan: Provides you with a predetermined amount of money up front for a specific period of time, usually with a fixed interest rate.
Home Equity Line of Credit: A fixed amount of credit with a variable interest rate that you can draw from as you need it.
Use a home equity loan to consolidate debt, remodel your home, travel, purchase a vehicle, or finance your child(ren)'s continued education. (Consult your tax advisor for possible tax deduction.)
Interested in applying for a Home Equity loan?
Click here to schedule an appointment with a LincOne Advisor!
| Loan to Value | Fixed Rate |
|---|---|
| 80% | As low as 5.70%* APR |
| 80% | As low as 6.20% APR |
| *Requires an autopay from a LincOne Checking Account. $5,000 in new money required to receive advertised 5.70% APR rate. Loans subject to credit approval. Annual Percentage Rate is accurate as of effective date listed. Real estate closing costs/fees vary based on loan amount, location and type of loan. Taxes and insurance premiums not included in payment. All loans subject to approval & rates subject to change without notice. | |
| Loan to Value | Variable Rate* | Based off Prime Rate |
|---|---|---|
| 80% | 7.50% APR | (Prime Rate) |
| 90% | 8.50% APR | (Prime + 1.00%) |
*VARIABLE RATE INFORMATION: The Annual Percentage Rate (APR) is accurate as of effective date listed and may vary quarterly. The APR is based on the Wall Street Journal Prime Rate. The maximum APR that may apply is 18%. Closing costs may vary between $200-$600. Other restrictions may apply. All loans subject to approval. Please call LINCONE for payment information and examples: 402.441.3555 | ||
What Are Home Equity Loans?What Are Home Equity Loans?
Fixed Home Equity Loans
Home Equity Line of Credit
A fixed home equity loan is a loan where a homeowner borrows against the equity in their home and receives a lump sum with a fixed interest rate and set repayment schedule. The benefits include predictable monthly payments, protection from rising interest rates, and a consistent plan for paying off the debt. This type of loan is ideal for large, one-time expenses such as home renovations, debt consolidation, or major purchases, and is best suited for borrowers who prefer financial stability and can manage regular payments over the loan term.
A Home Equity Line of Credit (HELOC) is a revolving credit line that allows homeowners to borrow against the equity in their home, providing access to funds as needed up to a pre-approved limit, with a variable interest rate. The benefits include flexibility in borrowing and repayment, interest-only payment options during the draw period, and potentially lower initial interest rates. This type of loan is ideal for ongoing or unpredictable expenses such as home improvements, education costs, or emergency funds, and is best suited for borrowers who need access to funds over time and can handle variable interest rates and payment schedules.
Home Equity Loan Benefits
Debt Consolidation
Homeowners can use the funds to pay off high-interest debts, such as credit card balances, consolidating them into one loan with a potentially lower interest rate. This simplifies payments and can reduce overall interest costs.
Home Renovations
Borrowing against home equity is a popular way to finance home improvements or repairs. This can increase the home’s value and potentially provide a good return on investment.
What Are Home Equity Loans?
Fixed Home Equity Loans
Home Equity Line of Credit
A fixed home equity loan is a loan where a homeowner borrows against the equity in their home and receives a lump sum with a fixed interest rate and set repayment schedule. The benefits include predictable monthly payments, protection from rising interest rates, and a consistent plan for paying off the debt. This type of loan is ideal for large, one-time expenses such as home renovations, debt consolidation, or major purchases, and is best suited for borrowers who prefer financial stability and can manage regular payments over the loan term.
A Home Equity Line of Credit (HELOC) is a revolving credit line that allows homeowners to borrow against the equity in their home, providing access to funds as needed up to a pre-approved limit, with a variable interest rate. The benefits include flexibility in borrowing and repayment, interest-only payment options during the draw period, and potentially lower initial interest rates. This type of loan is ideal for ongoing or unpredictable expenses such as home improvements, education costs, or emergency funds, and is best suited for borrowers who need access to funds over time and can handle variable interest rates and payment schedules.
Home Equity Loan Benefits
Debt Consolidation
Homeowners can use the funds to pay off high-interest debts, such as credit card balances, consolidating them into one loan with a potentially lower interest rate. This simplifies payments and can reduce overall interest costs.
Home Renovations
Borrowing against home equity is a popular way to finance home improvements or repairs. This can increase the home’s value and potentially provide a good return on investment.
Interested in applying for a Home Equity loan?
Click here to find a LincOne branch location
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