Home Equity Loans And Home Equity Lines Of Credit
Home Equity Loan & HELOC Features
Finance up to 90% of your home’s value
Low closing costs and processing fees
Quick and easy application process
Benefits Of 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.
The benefit of both home equity loans and HELOC is that both generally have a lower interest rate than credit cards and some other types of loans. Additionally, the interest you do pay on either of these loan types may be tax-deductible.
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.
Home Equity Line Of Credit
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, and the first 25 checks you write using your line of credit have no associated fee.
Have Questions About Using Home Equity?
We’re always happy to help answer your specific questions about home equity loans and home equity lines of credit.
Give us a call at 419-841-9838 or 1-888-508-2228 (toll free) to speak with a Directions team member.
Apply For Home Equity Financing
Apply for a home equity loan or a home equity line of credit today and secure the funds you need to reach your goals.