If you own and occupy a home, townhome or condominium, Freedom Bank can help you unlock your equity into cash. Home equity loans provide opportunities for remodeling, home improvements, debt consolidation, the purchase of a vehicle, education expenses, vacations and much more! Interest paid on your equity loan may be tax-deductible. Check with your tax advisor for full details.
Contact us to learn more about our Home Equity Loans.
Introductory 4.0% APR Home Equity Line of Credit*
Relationship discounts available
Closing costs credit
Annual Percentage Rate (APR) at Wall Street Journal (WSJ) Prime minus 0.50% for FICO credit score above 750, currently 4.25% APR and WSJ Prime for FICO credit score below 750, currently 4.75% APR.
Relationship discount of 0.25% for having your monthly payments auto-deducted from your Freedom Bank Checking Account.
Introductory rate of 0.25% below published rate for 6 months. For example, with FICO credit score above 750, introductory 4.00% APR for 6 months. Variable rate thereafter, currently Prime minus 0.50% or 4.25% APR.
Floor rate of 4.00%; Maximum APR of 21%.
Borrow up to $500,000, with a minimum loan amount of $25,000.
Maximum combined loan-to-value (CLTV) of 85% on loan amounts up to $250,000; and 75% CLTV on loan amounts of $250,000 and above.
Draw period of 10 years followed by a repayment period of 10 years.
Rate of interest on the 10 year amortized repayment period will be the WSJ Prime Rate.
Up to $1,500 of your closing costs paid by Freedom Bank, provided the line of credit is not closed within the first three years. Estimated closing fees between $1,500 and $4,500.
Introductory 4.0% APR
*Effective 11/12/2019. This is not a commitment to lend; you must submit additional information for review and approval. Rate(s) and APR(s) are for illustrative purposes only and are subject to change without notice.
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