Home Equity Loans

Wouldn’t it be nice to consolidate all those bills into ONE easy loan? And what if you could trade all that incredibly high interest on credit cards while taking advantage of today’s low interest rates. And if that’s not enough, what if you could make all that interest tax deductible (consult your tax advisor). Sound to good to be true?

Consider a Home Equity Loan from Eagle Savings Bank. Regardless of whether it’s an auto loan, credit card balances, cash for home improvements or additions, education or any of life’s surprises, they can all be consolidated into one very smart Home Equity Loan.

An Eagle Savings Bank Home Equity Loan can be opened easily with no money down for qualified home owners and it’s your best edge against debt. To learn more about all the advantages of a Home Equity Loan, just give us a call. We’d be happy to explain the many benefits of this exciting program!

Need Extra Cash? An Eagle Savings Bank Home Equity Loan may be the answer.

Home Equity Loans are the smartest way to eliminate credit card debt, purchase an automobile, make home improvements or pay for any of life’s surprises. The interest paid on a home equity loan may be tax deductible. You should consult a tax adviser to see if you are eligible for any such deduction.

We offer two types of home equity programs. If you are looking for an available amount that can be accessed at your discretion, our home equity line of credit should serve your needs. Similar to a credit card, you are granted a credit limit that is available to you anytime you need it. You make interest only payments on the outstanding balance and principal reductions to the line are made only when the time is right for you and your family. rates for our home equity line of credit are based on the loan to value of the property and your overall credit standing. The interest rate adjusts monthly based on the Wall Street Journal Prime Rate plus or minus a margin, depending on your qualifications with a term of up to 10 years.

If your preference is to use your home’s equity for a specific need, such as remodeling expenses, purchasing a car, or consolidating other debts, and you want to make regular payments to pay the loan down, then a second mortgage loan may be the answer. this program provides the funds to you at the inception of the loan with a fixed principal and interest payments made over a period that works best for you (up to 15 years). The interest rate is fixed for the term of the loan, avoiding any volatility that may occur with a variable rate.

Not sure which program may fit your needs the best? One of our loan officers is ready to discuss the features and benefits of either program so you have confidence you are choosing the correct loan for you.

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