An alternative to a traditional mortgage.
Refinance your primary mortgage at our lower rate while gaining access to your home's equity. We offer two options when you're looking for an alternative to a traditional mortgage loan.
- Fixed Equity Rich Loans can be utilized as a new, fixed-rate, short-term mortgage loan, or as an option for refinancing an existing mortgage. It has a maximum term of 15 years.
- Equity Rich Lines of Credit (ERLOC) have lower rates than traditional Lines of Credit and cost far less than traditional mortgage loans. As you pay-off your mortgage, you can borrow on your Line of Credit up to the available limit. It is available for a 10-year period with a 5-year repayment period.
Great features of these loans include:
- For your primary residence only
- No application fee or escrow account1
- No prepayment penalties
- Free Line of Credit checks
- Make transfers from your Line of Credit in Online Banking
- Tax deductibility2
2Be sure to contact a tax advisor on their deductibility of interest.
Back to Top