Home Equity Loans

Renovations and Repairs.
No sweat.

Couple installing kitchen cabinets

Pay for home renovations, updates and repairs with the equity you’ve built from paying your mortgage. We offer two types of home equity options.

Calculators >

Loan Vs. Line of Credit

Home Equity Loan

Repairs and updates add up. By using your home as collateral, a home equity loan presents funds upfront in one lump sum.

  • Secured by the amount of available equity in your home
  • Interest rates typically remain fixed for the life of your loan
  • Interest paid may be tax deductible

Frequently used home equity calculators:

Home Equity Line of Credit

Large home renovations can be hard to price. With a HELOC you can borrow only what you need as you need it. That’s because a HELOC allows you to get approved for the maximum amount available. Which means you’re always in control of your loan balance.

  • Repayment terms are more flexible than a home equity loan, but rates are variable
  • Secured by the amount of available equity in your home
  • The interest paid may be tax deductible¹
  • Revolving credit – similar to a credit card, the balance available to you increases as you pay down principal

¹ Consult a tax advisor

Man renovating attic

How to get started

You'll need to provide your lender with the following:

  • Last two years of tax returns
  • Last two years of W-2’s
  • Last two paycheck stubs
  • Most recent mortgage statement or statements
  • Proof of current homeowner’s insurance

You may be asked to provide more information and documentation throughout the loan process.