Put Your Home's Equity To Work

You might be living in your best source of funding for anything from home improvement to debt consolidation or anything else! A home equity line of credit or home equity loan lets you borrow against the equity you have in your home. The rates are usually much lower than credit cards or personal loans; you can control how much you borrow; the closing costs are minimal, and the payment terms are flexible. Depending on how you spend the money, the interest might even be tax deductible!

HOME EQUITY SPECIAL

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Home Equity Adjustable Rate

A home equity loan, also called a second mortgage, lets you borrow against the equity you’ve built up in your home through your down payment, mortgage payments and increased home value.

  • 5/5 Option
    • As low as 5.99% APR*
    • Fixed percentage rate for the first 5 years.
    • Maximum increase of just 2% per rate adjustment with a lifetime maximum adjustment of 5%
    • Ability to borrow up to 90% Combine Loan to Value
  • 10/1 Option
    • As low as 6.49% APR*
    • Fixed percentage rate for the first 10 years.
    • Maximum increase of just 2% per rate adjustment with a lifetime maximum adjustment of 5%
    • Ability to borrow up to 90% Combine Loan to Value

A home equity loan may be the right choice if:

  • You want a lower rate than your average personal loan
  • You have a good amount of equity built up in your home
  • You want steady monthly payments
  • You need a large amount of upfront cash, such as for a major home repair or vehicle purchase.
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Home Equity Line of Credit

A home equity line of credit (HELOC) is a flexible and affordable way to cover large, ongoing or unexpected expenses, like home improvements and debt consolidation.

  • As Low as 5.99% APR*
  • 24-Hour Access; Use Funds for Anything
  • No Annual Fee
  • 10-year draw period, then take up to 10 years to pay off any remaining balances
  • Interest may be tax deductible (consult your tax advisor)

A home equity line of credit may be the right choice if:

  • You want a lower rate alternative than other loan options
  • You have a good amount of equity built up in your home
  • You want ongoing access to cash, such as for emergencies or college tuition

What you should know about Home Equity Lines of Credit.
Home Equity Early Disclosure

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*APR - Annual Percentage Rate. No closing costs may not be available in all states and does not include cost of a full appraisal or full title work if needed. Promotional interest rate is as of April 22, 2024 and is subject to change. Home Equity Line of Credit - as low as 5.99% APR for 12 months from the closing date. After 12 months, rate will vary between 5.99% - 18.00% based on your creditworthiness. Minimum disbursement of $15,000 is required. If you fail to comply with this criterion, the interest rate on your HELOC will increase to the variable rate stated on the Home Equity Line Agreement and Disclosure statement even if the twelve (12) months are not up yet. Home Equity Loan - as low as 5.99% APR for the initial five-year or ten-year fixed rate period. After the initial period, the new interest rate for each change date will be calculated by adding the original margin to the current index. Maximum loan amount is $100,000. $10,000 in new money is required for any refinance of an existing SouthPoint loan. Federally Insurance by NCUA. Equal Housing Opportunity.