Put Your Home’s Equity to Use
With every payment you make on your mortgage, you gain equity in your home. The equity can be a valuable tool to provide you with financial flexibility. Paper City Savings Bank offers home equity loans and home equity lines of credit to borrowers looking to put their home’s equity to use. Contact our friendly lending team to learn more about home equity benefits.
Home Equity Loans vs. HELOCs
While both home equity loans and HELOCs utilize your home’s equity, there are some key differences.
- Home Equity Loans: A home equity loan is a lump sum loan where you receive the full amount of the loan up front. Your rate is fixed throughout the loan’s term and you pay interest on the full amount of the loan.
- HELOCs: A home equity line of credit is a revolving line of credit that you draw on as needed. You pay interest only on what you borrow from the line of credit. As you repay your balance, it becomes available to borrow again.
Meet Our Lenders
Roxanne Sweet
Consumer Lending Specialist
NMLS: 456448
Division: Consumer Lending
Location: Wisconsin Rapids
Phone: (715) 422-1805
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