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HOME EQUITY LOANS & HOME EQUITY LINES OF CREDIT

CHOOSING YOUR HOME EQUITY FINANCING

Using the value of your home equity is a great way to finance everything from projects around the house, to weddings, vacations, school costs and more! At Greenwood, we have a number of home equity options to choose from, and one that’s guaranteed to fit your individual need!

HOME EQUITY LINES OF CREDIT

HOME EQUITY LOAN

Say you have a large home renovation or remodel. Perhaps it is adding a pool, replacing your roof, or redoing your kitchen or bath. Whatever your project, the right option for your is most likely our Home Equity Loan. A home equity loan allows you to take out a specific amount of money for a term of up to fifteen (15) years and pay a fixed interest rate. And your interest may be tax-deductible (consult your tax advisor). This loan is limited to 80% of your home’s Loan-to-Value, but we also offer High-Loan-To-Value (HLTV) Equity Loans that allow you to borrow up to 100% of the value of your home and come with fixed rates, fixed payments and low costs.

TermAPR*Minimum Loan Apply Online
60 Months
5.24%*$10,000.00
Apply Now
120 Months5.49%***$10,000.00Apply Now
180 Months5.74%***$10,000.00Apply Now
240 Months5.99%***$10,000.00Apply Now
Repayment Examples

For home equity loan payments: At 4.74% APR, 60 monthly payments of $18.75 per $1,000 borrowed
For home equity loan payments: At 4.99% APR, 120 monthly payments of $10.60 per $1,000 borrowed
For home equity loan payments: At 5.24% APR, 180 monthly payments of $8.03 per $1,000 borrowed
For home equity loan payments: At 5.49% APR, 240 monthly payments of $6.87 per $1,000 borrowed

HOME EQUITY LINE OF CREDIT

The best option for when you need extra cash for purchases, vacations, school payments or even a wedding. With a Home Equity Line of Credit, you are approved for a total amount. Then you draw out the money you need when you need it. You make payments on the money you use.

FEATURES:

  • No Fees or Closing Costs
  • No Annual Maintenance Fee
  • Monthly Payments as low as interest only
  • Can Be Used for Any Purpose
FIXED OR ADJUSTABLE RATE MORTGAGE
TermAPR*Minimum Loan Apply Online
120 Months3.99%**$10,000.00Apply Now

Or call 401-562-2756 or email: [email protected]

Repayment Example

For home equity line of credit payments (interest only): At 3.99% APR, $3.33 per $1,000 borrowed per billing cycle.