Home Equity Loans
WHY WAIT? LET EQUITY IMPROVE YOUR LIFE.
Borrow up to 80% of the equity in your home, and the interest may be tax deductible (check with your advisor for details). Home equity loan rates are fixed and have a minimum loan amount of $10,000.
Your personal banker at FFB can help you through the process of getting your home equity loan or home equity line of credit. It begins with filling out a secure, online application.
CONTACT US TODAY!
>> Oklahoma City Area 405-416-2222
>> Tulsa Area 918-728-6345
>> Phoenix Area 602-912-5555
>> Denver Area 720-782-7222
>> Nationwide 800-299-7047
THERE ARE REALLY NO LIMITS WHEN IT COMES TO USING YOUR LOAN
Home improvements are one of the most common reasons people get home equity loans. But you can also pay for college, a big event like a wedding, or take a dream vacation. The choice is yours!
WHAT IS THE DIFFERENCE BETWEEN A HOME EQUITY LOAN AND HOME EQUITY LINE OF CREDIT?
A home equity line of credit, or HELOC, is a type of home loan that is available to you whenever you need it. You can draw against your line of credit and pay it back as you go, saving you the time of going through a full application process each time you have a financial need.
Home Equity Loan Disclosure
Term Home Equity Loan rates as low as 4.808% are based on an individual’s credit history. Individuals with less than excellent credit may be offered a higher margin. All loans are subject to credit approval. Advertised rates are effective as of May 1, 2020 and are subject to change without notice. Minimum loan amount of $10,000. Maximum LTV 80%. Please review your Loan Estimate for applicable fees. Other restrictions may apply.
Home equity is the difference between how much your home is worth and how much you owe on it. With a Home Equity Loan, you can borrow up to 80% of your home’s value. For example, if you own a home with an appraised worth of $200,000, and you still owe $90,000 on the home, then your home equity is $110,000. If your Home Equity Loan qualifies you to take out 80% of the home's value, you can then borrow up to $70,000 (80% of the home value is $160,000, then subtract the $90,000 still owed on the home, and the result is $70,000).