If you own your home, you may have a silent partner ready and willing to provide the money you need to meet your goals or the demands you are faced with.
Borrowing against the equity in your house to start a business, make much needed repairs or invest in an education is an excellent way to use your resources. Your home can work for you and it is possible that this type of loan can be helpful when preparing your tax returns.
Your dreams can become a reality. We can help you find out if your home might be your silent partner. Contact us today about a home equity loan.
Home Equity Fixed Rate Loan
Put the equity in your home to work for you with a Cornerstone home equity fixed rate loan. Repayment terms of up to 15 years are available for your convenience. You can borrow up to 85% of your home's appraised value, less any existing mortgages or lien balances.
Home Equity Line-of-Credit (OPEN-END)
With a Cornerstone "Open Door" Home Equity Line-of-Credit Loan you can borrow a little or a lot at one time. (Up to $50,000 in some instances). The Open Door program allows you to borrow up to $50,000 depending on the equity in your property, with repayment terms of up to 15 years. Immediate cash advances from your Line-of-Credit are available at the credit union office, by mail, or by fax. The interest rate is subject to change monthly based on the average 1-year U.S. Treasury Bill rate plus 3.50%. (Available in PA and NJ only).
There are no costs associated with the Home Equity Fixed Rate Loan if you borrow at least $10,000 in new funds or if you make an immediate advance of $10,000 or more on a new Home Equity Line-of-Credit. However, if you borrow more than 80% of your home's value, you will be required to pay the appraisal fee.
Home Equity
