Finding a Loan
Home Equity Loan
- Why would I take out a Home Equity Loan?
- What is the difference between getting a Home Equity Loan and refinancing my mortgage?
- What do I need to do to apply for a Home Equity Loan?
- How long will the entire process take?
- How much can I borrow?
- For what property types can I apply for a Home Equity Loan?
Finding a Loan
What's the interest rate?
Our interest rates vary by product and credit criteria. Please check with your branch to find the specific rate for the product you're interested in. To find a local branch, click on the Locations link above for a complete list or call 1-866-665-4500 for the location nearest you.
Will my monthly payment always be the same?
If you have a fixed interest rate and term, your payment will not change from month to month as long as you make payments on time.
How do you determine the amount I qualify for?
We look at several factors including whether or not you own a home, the amount of equity you have in your home, the total amount of debt you carry, your income and credit history.
What is your 10 - Day Satisfaction Guarantee policy?
Because we want you to be completely satisfied, we offer a Satisfaction Guarantee. If for any reason you are not satisfied with this loan and you repay it in full within 10 days after the loan funds are disbursed,
other than with a refinance of this loan with us, we will refund any interest charges, closing costs and fees. We will also waive any prepayment penalty applicable to your loan.
Note: California residents will not receive this satisfaction guarantee on loans not secured by real estate.
Personal Loan
What's a personal loan?
A personal loan is a loan that's not secured by personal property or collateral like a home or car. Applying for a personal loan is similar to applying for a credit card.
How fast can I get a decision?
In most cases you'll get a decision within 24 hours.
Home Equity Loan
Why would I take out a Home Equity Loan?
There are many reasons for taking out a Home Equity Loan, including making home improvements, consolidating bills, or paying an unexpected expense. The best part about a Home Equity Loan is that it consolidates your financial needs into one easy payment that may be tax-deductible (consult your tax advisor).
What is the difference between getting a Home Equity Loan and refinancing my mortgage?
Refinancing your mortgage generally pays off all of the existing mortgages on your home while using your home as security. A Home Equity Loan is simply an additional mortgage (sometimes called a second mortgage) on your home that may allow you to gain a lower interest rate and better terms than other credit options.
What do I need to do to apply for a Home Equity Loan?
You will need to provide proof of home ownership and the amount of equity you currently have, as well as verify your employment and current income. If you have a co-signer, employment and income must be verified for both signers.
How long will the entire process take?
If the branch receives your faxed income documents today, we can start the process immediately and have your loan closed in as few as ten business days. Income documents generally include your last two year's W-2s and last two paystubs.
How much can I borrow?
We provide home equity loans up to $250,000. You can borrow up to 100% (80% in Texas) of your home's appraised value minus your current mortgages.
Loans are subject to credit approval.
For what property types can I apply for a Home Equity Loan?
The only property types for which we offer Home Equity Loans are Single-Family homes, duplexes, condominiums, 2 flats, 3 flats, 4 flats, modular homes, and townhouses used as owner-occupied or vacation property.
Mortgage Refinance Loan
Why would I refinance my current mortgage?
By refinancing your current mortgage, you may be able to lower your monthly payments, get out of debt quicker and take advantage of potential tax breaks (consult your tax advisor).
How much can I borrow?
You can borrow up to 100% (80% in Texas) of your home's appraised value, up to $800,000. Final approval, loan amount and APR subject to credit status, income, available equity in your home and ability to repay.
How much will my monthly payments be?
Use our Payment Calculator to calculate your possible 1st Mortgage Refinance Loan payments.
For what types of property can I get a Mortgage Refinance Loan?
We offer Mortgage Refinance Loans for single-family homes, condominiums, town homes, planned urban developments (PUDs), modular, mobile and manufactured homes, rural and mixed-use property. Based on your property type, certain restrictions may apply. Your account executive can provide details.
