The interest rate will be the same for the entire term of the loan, which means your mortgage payments remain constant. Repayment terms vary, so you can establish a monthly payment to fit your housing budget. Though rates on an ARM will fluctuate with rising and falling interest rates, our annual and lifetime interest rate caps will protect you against steep rate increases. We cam help you borrow using the equity in your home, with the security of a fixed rate, fixed term and fixed monthly payments. Flood insurance may be required.
Property insurance is required.
Consult a tax advisor about the deductibility of interest. New loans only. Other restrictions may apply. For many homeowners, a home equity line of credit is a major source of short and medium term financing. And, for most people, the interest paid is tax deductible.