Home Equity Loans
Perhaps you are one of the many homeowners who refinanced their residences in recent years to take advantage of declining interest rates. Now you can preserve that low interest rate and still make the most of your growing equity to finance home improvements, travel or whatever your financial needs are.
How it Works
With a Home Equity Line of Credit through LANB your primary residence or second home will serve as collateral for a pre-determined credit limit. Use this money as you see fit. Fix up the basement, landscape the yard, or use it for an emergency. Your available line of credit is based on a simple equation involving the appraised value of your home and the amount remaining on your mortgage.
- 10-Year draw period in which funds may be accessed
- Monthly principal and interest payment during the draw period
- 15-year repayment period; funds cannot be accessed
- Monthly principal and interest payments during the repayment period until paid in full
Ready to Apply?
>>Apply for a Home Equity Loan Now
** LANB NMLS #: 546116