Home Equity Loan

Home Equity Loans

A Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit is like a credit card. You can borrow
money up to your credit limit, and you only get charged interest
on the portion that you borrow. You can pay down the balance,
then reuse the credit. Most have a draw term, usually 5 to 10 years,
where you can draw money out, then the loan is paid back over
a 10 to 15 year period. You may also elect to refinance the Equity Line
and get another 5 to 10 years to use the line of credit.

You choose what you want to do with your home equity line of credit:

Remodel your home
Take a vacation
Consolidate bills
Buy a car, boat or RV
Finance tuition or other expense
Use it as an emergency fund

There are many features of HELOC loan programs.
Ask your Loan Officer to help you decide which is best for you.

Great Rates: rates can be below the prime rate on some programs.
No Loan Fees: No appraisal fee or closing costs.
Convenient Closings: Some programs allow doc signing in your home.
Credit lines or maximum loan limits vary with each program.
Pricing varies with the LTV.
Accessing the cash in your credit line can be done by writing a check,
charging on a credit card or making a withdrawal at a financial center.
Many of these programs have an early termination fee.
Some programs may offer a fixed rate loan option feature,
where you can lock in a fixed rate on all or a portion of your
outstanding balance.
Pricing is based on your Credit Score. These cutoff limits are fairly
strict, so if your score is just below the next higher range, you may
want to discuss how to improve your score with your loan officer.

A HELOC is usually 100% tax-deductible*, and a smart way to consolidate debt, pay for home improvements, new automobiles, student loans or even vacations or weddings.

Home Equity Fixed Rate Loan

You may prefer a home equity fixed rate loan compared to a HELOC. Home equity fixed rate loans offer a wide variety of amortization periods (length of time to pay it back), more choices for people with less-than-perfect credit, fixed rates so your rate can never go up and the interest paid may also be tax-deductible*!

* It is recommended that Customers consult their tax advisor. Not all loan fees or interest payments are tax deductible.

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info@equityonemortgage.com

Convenient Locations to Serve you

ST.CHARLES COUNTY: 635 Salt Lick Rd. St. Peters MO 63376 * 866-379-3465
SOUTH COUNTY: 6022 S Lindbergh, Ste-100, St Louis MO 63123 * 866-934-0711
FRANKLIN COUNTY: 554 East 5th St, Washington MO 63090 * 866-339-8400
HILLSBORO: 10906 Hwy 21, Hillsboro MO 63050 * 877-788-4013
WARRENTON: 406 E. Booneslick Rd, Warrenton MO 63383 * 636-456-9323
CARLYLE: 867 Fairfax St, Carlyle IL 62231 * 618-594-8648
ALTON: 520 C West Delmar, Alton IL 62002 * 618-466-0400

...and for all of your Insurance needs,
visit www.GlobalGreenInsuranceOnline.com

Equal Housing Lender