Home Equity Loans
Home equity loans offer a wide variety of amortization periods, which is the length of time allowed to pay back a loan. The interest rate is fixed, so your rate can never go up. The interest paid may be tax deductible.* Contact our Home Loan Center for complete details.
- Loans from $45,000 - $200,000
- Maximum Loan-to-Value = 80%
- Minimum mortgage credit score of 700 required
- For existing Colonial customers only
- No closing costs to $100,000 unless appraisal is required
- Title policy and Title closing fees are needed for loans above $150,000
- 45% max Debt-to-Income ratio
- Available for cash out or limited cash out
- Available in the following states: AZ, CA, CO, FL, GA, IL, IN, KS, LA, MD, MI, MO, NC, NM, OH, OK, PA, SC, TX, VA, WA and WI
*Consult your tax advisor
