Home Equity

Nailing

HOME EQUITY LOAN

Looking to put that addition onto your home, or sending your student to college?  Whatever the case, Superior has great Home Equity Loans and Lines of Credit to suit your need.

Using the value of your home, you can borrow against it to get you a lower rate and better terms.  Use the money for whatever you would like.  Here’s the formula to find out how much you would be eligible for:

Appraised Value of Home X 80% – Balance of 1st Mortgage=

Amount of Equity in your home to borrow

ex:

$200,000.00(Value) X 80% = $160,000.00

$160,000.00 – $100,000.00 (1st Mortgage) = $60,000

$60,000 is available to borrow

  • Terms:  up to 20 years
  • Financing:  up to 80% appraised value of home

 

 

HOME EQUITY LINE OF CREDIT

Using the value of your home, you can borrow against it to get you a lower rate and better terms.  Use the money for whatever you would like.  Home Equity LOC’s work as revolving credit.  You can borrow and repay over 15 years.  Here’s the formula to find out how much you would be eligible for:

Appraised Value of Home X 80% – Balance of 1st Mortgage=

Amount of Equity in your home to borrow

  • Term:  15 years, 7 year draw, 8 year payback
  • Finaincing:  up to 80% appraised value of home

 

 

APPLY TODAY!