Home Equity Loans

Commercial Bank offers both Home Equity loans and Home Equity lines of credit. A Home Equity loan is based on your home's equity and allows you to borrow a lump sum of money at a fixed rate for a fixed term. A Home Equity line of credit is also based on the equity in your home and allows you to access these funds over a fixed term with an interest rate tied to prime.

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Fixed Rate Home Equity Loans

Loan Types:

Smart Money Renovation Loan FHA Home Improvement Home Equity Lines of Credit

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Ideal For

Home Improvements Home improvements Home improvements, vacations, purchase large ticket items

Amount Available

Based on equity in home Up to $25,000 Based on equity in home

Interest Rate

Competitive fixed rate Competitive fixed rate Rate varies with prime and amount of line

Monthly Payment

Interest for the 1st year based on how much you use, fixed for the remainder of the term Fixed Interest only based on the current balance

Terms

15 years Up to 20 years Extended terms

Fees

None None None