Dreaming of a home improvement project? Or planning to send your child to college? Perhaps you want to consolidate debt or finance a major purchase? With a home equity loan or home equity line of credit (HELOC), you can borrow against the equity in your home to fund whatever you choose.
With current low rates, and no application fees, no origination fees and no pre-payment penalty, it’s a great time to get started. We are here to help you consider all your options and find the right loan for you.
3.000% Rate / 3.000% APR* on a 7 Year Fixed Rate Home Equity Loan
3.500% Rate / 3.500% APR* on a 15 Year Fixed Rate Home Equity Loan
*APR (Annual Percentage Rate), terms and fees are subject to change without notice. Minimum loan requirement of $10,000. APR applies to first lien only and a maximum loan-to-value (LTV) ratio of 80%.
The estimated monthly payment on a $50,000 7 year loan is $660.67.
The estimated monthly payment on a $50,000 15 year loan is $357.44.
Payment examples do not include taxes or insurance. Therefore, your actual housing obligation will be greater.
Other Terms and Conditions apply. Appraisal fee of $385 to $550 may be required. Property insurance is required and flood insurance may be required. Consult with a tax advisor to determine whether the interest you pay is tax deductible.
Available for owner occupied 1-4 family residential properties only. Not available for refinancing or modification of an existing Brentwood Bank loan or mortgage.
APRs are accurate as of 2/7/2022 and are subject to change without notice. Approval is subject to Brentwood Bank underwriting guidelines.
Maximum loan amount: $500,000.
Which loan is right for you?
Start by considering how much you need and what you plan to use it for.
With a home equity loan, you receive one lump sum—upfront. This is a fixed rate loan that is paid back over a predetermined amount of time with fixed monthly payments. You receive your loan amount by deposit or check.
A home equity line of credit, or HELOC, is like a credit card. Brentwood Bank extends you a set among of credit. You decide how much you want to use, whenever you need it. You make payments and pay interest on what you borrow. We offer many loan options, each designed for a specific borrowing purpose.
We are here to help you find the loan that works best for you.
Learn more about home equity
How much equity do I have?
Calculate your home’s equity by subtracting the balance on your mortgage from the fair market value of your home. You can normally borrow up to a certain percentage of your home’s equity.
Ready to get started?