Home Equity
Coastal's Home Equity Loan is the missing piece to debt consolidation, paying for education, home improvement, and more! Choose the right option for you with either a fixed rate or variable revolving line-of-credit. Stop by one of our convenient branch locations to learn more or apply online below. And don't forget to ask your tax advisor how you can deduct the interest from your taxes.
- Features
Home equity is created in two ways: first, by making monthly payments toward your mortgage and second, through the value of your home as it appreciates. Equity is the difference between the market value of your home and any outstanding mortgage loan balance(s). Through this equity you can qualify for a Home Equity Loan.
- Variable or Fixed rate options to suit your needs
- No closing costs if you take an initial advance of $10,000*
- Interest you pay on the loan may be tax deductible. Consult your tax advisor.
Choose the Home Equity Loan that's right for you:
Variable Rate Line-Of-Credit (HELOC)
- Save money with low rates (see rates)
- Open ended line-of-credit
- Interest rate and monthly payment may change
Fixed Rate Loan
- One lump sum loan
- Regular monthly payments until balance is paid in full
- Interest rate and monthly payment remain the same over the life of the loan
*No Closing Costs if the initial advance is $10,000 or more and the balance is maintained for at least 12 months. (Otherwise, closing costs could range from $50.00 to $450.00.) Property insurance is required.
