Get more out of the equity in your home.
In real estate, the term “equity” refers to the difference between the current fair market value of the home and the amount of money owed on a mortgage. Improvements you’ve made, or plan to make, as owner of the house can increase its worth. Take advantage of the equity you’ve put into your home, or plan to earn, with a low-rate loan perfect for renovations, dream vacations, debt consolidation and college tuition. After all, it’s your money!
Home Equity Loan
A home equity loan uses the current appraised value of your home as collateral. Ion Bank’s fixed-rate installment loan lets homeowners borrow against the property’s existing equity. The plan offers fixed monthly payments and low rates.
Home Improvement Loan
This home improvement loan uses the completed appraised value of your home improvement project as collateral. Simply provide the plans and specifications, along with the construction contract and town permits, to begin improving your home and increasing its value. The plan allows up to 6 months to complete the improvements. Enjoy fixed monthly payments and low rates.
Home Equity Line of Credit
HELOC is a second mortgage that uses your home as collateral. Borrow up to a certain amount of money over time to use for large purchases or consolidate debt. Homeowners have the option of combining existing equity with the flexibility of a revolving credit line with a variable interest rate. To access the funds, all you need to do is write a check!