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Not sure which type of home equity product is right for you? Our home equity guide can help you decide. You can also print off a home equity Quick Guide for additional information.
A home equity loan is based on the difference between what your home is worth and what you owe on it. That amount is your equity. We can lend up to 100% of your home equity. An equity loan has no effect on your existing mortgage and will not change your existing mortgage rate or term.
AnchorBank home equity loans offer several advantages:
- Tax-deductible interest - consult your personal tax advisor to see if you qualify
- Fast approvals - usually within one day
- Competitive interest rates - fixed or variable rates are available
- Low monthly payments - payback terms of up to 20 years
- Easy automatic loan payments from checking or savings account
Home equity rates vary by the term of the loan, the Loan-to-Value Ratio (LTV) and whether or not you use the Anchor automatic payment plan. For details and more loan options, see our home equity comparison chart and rates table.
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