Put your house to work for you

If you have built equity in your home, it makes good sense to put your house to work for you. That's easily done with a home equity loan or home equity lines of credit. Borrow for home improvement, a new car, bill consolidation, your children's education, or simply to give you the peace of mind that comes from knowing you have money available in case of an emergency.

Home Equity Line of Credit (HELOC)
A HELOC is a revolving personal line of credit secured against your home that lets you borrow up to 100% of the value of your home again and again. You will be issued a check book and you can write a check against your line when ever you need the funds. The home equity line of credit empowers you to use funds when you want, for whatever reason and it eliminates the need to apply for a loan every time you need money because you already have the loan. Rates are based on prime 4.75% as of September 10, 2002.

Fixed Second Mortgage
A Fixed Second Mortgage lets you borrow a specific amount of money which is paid to you by the bank at closing. A Fixed Second Mortgage is ideal if you need a set amount of money for a specific purpose. You can borrow up to 125% of your homes value. A Fixed Second Mortgage offers the security of equal monthly payments with a fixed interest rate, and the comfort of only borrowing what you need.

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