*Pay no closing costs up to $600 when you draw an initial advance of $10,000 or more with a new Home Equity Line of Credit.
HELOC & Home Equity Loan Features
Finance up to 90% of your home’s value
Low closing costs and processing fees
Competitive terms
Locally serviced
Quick and easy application process
What is Home Equity?
Your home equity is the amount of your home that’s yours. The equity you’ve accumulated in your home can be a source of financing for the big or little things you need.
Home Equity Line of Credit
*Pay no closing costs when you draw an initial advance of $10,000 or more with a new Home Equity Line of Credit.
*The maximum loan amount for this offer is $100,000
A Home Equity Line of Credit (HELOC) allows you to establish a line of credit using the available equity in your home. You may draw on this line of credit as you like, with repayment based only on the outstanding balance and not the entire line of credit. The interest rate is variable and is based on the prevailing Prime Rate.
HELOCs can also be useful to secure cash in the event of an emergency.
When you secure a HELOC with Directions, you don’t have an annual fee. You’ll get low closing costs, competitive rates and terms.
Home Equity Loans
Home equity loans, sometimes referred to as a “second mortgage,” are quite useful for financing a large, one-time purchase, or as a method of debt consolidation. Home equity loans from Directions are fixed interest rate products, which means you pay the same interest rate on your first payment as you do on your last payment.
