About Home Equity Loans
Has your kitchen remodel been stalled for decades? Is it time to fix that leaky roof? Maybe you need extra cash for expenses outside the house.
You've invested money into your home. Why not use these funds when you need them? With a Home Equity Loan or Home Equity Line of Credit (HELOC) from GTE Financial, you can take out the money you've already put into your home (the equity) and put it towards:
- Home renovations or home repairs.
- Consolidating high interest rate debts into one lower interest rate loan.
- Paying for medical bills.
What exactly are Home Equity Loans?
Home Equity Loans and HELOCs are second mortgages. Often times, these loans are used to pay for a large cost that you wouldn’t otherwise be able to cover. The amount of equity you have in your home is determined by the value of your home versus how much you still owe on your home. The loan is at a fixed rate for fifteen years.
Want to learn more about Home Equity Loans and how they may help you? Call us 24/7 at 888.871.2690, ext. 40436 or apply online for a credit pre-approval. You can also visit a Community Financial Center and may be pre-qualified in just 5 minutes!
An example APR for a 5 Year Home Equity Loan is 3.849%. An example monthly mortgage payment is $1,830. An example APR for a 10 Year Home Equity Loan is 3.801%. An example monthly mortgage payment is $1,001. An example APR for a 15 Year Home Equity Loan is 4.790%. An example monthly mortgage payment is $778. The example quotes are based on a property value of $200,000 and a loan amount of $100,000 for 1st mortgage options and a $10,000 2nd mortgage. The Annual Percentage Rates (APR) stated is an estimate and is intended for informational use only. Your actual APR may vary based on your actual loan amount. Please visit the Loan Consultant for additional information about our rates and fees. Rates are subject to change without notice. Your actual rate and/or points may be different, as many factors are evaluated for a loan approval.