Home Equity Loan vs. Home Equity Line of Credit
Choose a Home Equity Loan for home repairs and much more. This option gives you a lump sum to use, which is paid back in installments over a certain amount of time.
Choose a HELOC as a flexible source to finance home repairs and upgrades. A line of credit allows you the ability to draw money whenever you need for a period of time. You only pay interest on the amount you borrow.
The Versatility of a HELOC
Go ahead, renovate that kitchen. Add a second bathroom. Turn your extra garage space into a home office. Whatever you’re looking to do, one of the best ways to put money into your home is to use the money you get out of it. With a Home Equity Line of Credit, you can borrow against your home’s value to fund any number of improvement projects — and at a low interest rate.
Want peace of mind knowing your balance, or a portion of it, will be paid off within a specific timeframe? Contact us to learn more about locking in all or part of your balance at a fixed interest rate and term.
Benefits of a HELOC
- Lower rates and payments
- No annual fees
Four Ways to Access Your HELOC Loan:
- Digital Banking transfer
- Write a check
- Use Phone Banking to transfer funds from your HELOC to a Landmark savings, checking or money market account.
- In person at any of our convenient branch locations
Rates listed above are for up to a 70% LTV. Additional loan programs may be available. For rates and more information on this product please contact us.
Home Equity Loan
Borrow a set amount of money to be paid back in equal payments for up to 20 years. Popular terms are 3, 5, 10 or 20 years. Choose the term that best fits your needs.
Benefits of a Home Equity Loan:
- Low fixed rates and payments
- No annual fees
Consider a Home Equity Loan to:
- Pay for home improvements
- Consolidate high-interest debt
- Pay off medical expenses
- Pay education expenses
Home Equity Loan Rates2
|Up to 60 months
Rates listed above are for up to a 80% LTV. We also offer a separate 90%-100% LTV home equity loan. For rates and more information on this product please contact us.