Tap Your Home's Equity

We are one week out from the 50th annual Fort Wayne Home & Garden Show and hope everyone who attended got some good ideas for their next home improvement project! Hopefully you were able to stop by our booth inside the Allen Count War Memorial Coliseum and talk to some of our team members about how Fort Financial can partner with you on that project with a home equity loan or line of credit. And for a limited time when you apply for a home equity loan or line of credit we'll waive the application fee! Learn more or contact us for more details.

So what is a home equity loan or home equity line of credit (HELOC) and why is it your best bet for improving your home?

These loans let you borrow money using the equity in your home as collateral. Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC of $100,000 or less is likely to be tax-deductible ($50,000 if married filing separately).*

With a home equity loan from Fort Financial you borrow a lump sum of money (minimum $5,000) repayable over a fixed term, we have terms up to 240-months, giving you the security of a locked-in rate and a consistent monthly payment. A HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed (minimum of $5,000 to a maximum of 90% of the appraised value of your home), by making a transfer into your checking account. A HELOC is a variable-rate loan (currently as low as 6.49% APR), so your monthly payments will change based on your outstanding balance and fluctuations in the prime rate.

Talk to our home loan specialists at Fort Financial today for more details about our home equity products. Stop by a branch or call today at 260.432.1561 to learn more and let us help you #FortifyYourLife.

 

Check out the Financial Resource Center for more topics or visit our blog to read more.

 

*Consult a tax professional for tax implications.

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