
Home Equity = Borrowing Power
Using a home equity loan can allow you to use the old borrowing power you have from equity in your home.
Read MoreWanting to tackle a home project, fund a vacation, consolidate debt, or even plan a dream wedding? With Arkansas Federal, using the value of your home couldn’t be easier or more affordable. Even if you have no intention of selling your home right now, today’s hot housing market can lead to increased equity that you can use for a variety of projects or other financial needs.
There’s no cost to get pre-qualified. That’s a savings of $500!
Borrow up to 95% of your home’s value.Borrow up to 95% of your home’s value, minus your mortgage balance.
Feel secure with the same fixed payment each month.
“Home equity” may sound complicated, but it’s actually simple. Home equity is the value of your home minus what you still owe on your mortgage. So, if your home is worth $200,000, and you owe $150,000 on your mortgage, you have $50,000 in equity. The real question is—what could you do with your home’s equity?
Our fixed-rate home equity loan is a great option if you want the stability of a monthly payment that will not change over the life of your loan. But we also offer variable rate Home Equity Lines of Credit (HELOCs) with more of a revolving credit line, similar to a credit card. If you’re not sure which one is right for you, give us a call at 800.456.3000, and we’ll go over your options.
There’s no application fee – that’s a savings of $500! We also don’t charge an origination fee. It’s all part of our goal to save you money!
You may be able to deduct the interest paid on your loan. Consult with your tax advisor regarding interest deductibility, as tax rules change.