Fixed and Variable Rate Home Equity Loans are available on property within the State of Ohio. A minimum loan amount of $5,000 is required. Our current maximum loan amount is 75,000 for up to 15 years. Variable interest rates apply for all Equity Line of Credit or Closed End Variable Rate loans. Variable rates are reviewed and adjusted quarterly. Loans may be approved for up to 80% of the equity in your home. Equity is determined by taking the appraised value of your home minus the first mortgage (if one exists) and calculating the percent of the difference. The interest you pay may be tax deductible (check with your tax advisor).
Whether you choose a fixed/variable closed end equity loan or an equity line of credit loan you pay:
- No Points
- No Application Fee
- No Origination Fee
- No Maintenance Fee
- No Prepayment Penalties
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