Home Equity Loans

Although you may be hesitant to access the equity in your home, it can be an important source of funds for a family.  Some large expenses, such as college tuition, home improvement, and credit card consolidation are excellent reasons to access the equity in your home.  A Home Equity Loan allows you to access funds at a low interest rate over an extended term, usually with a smaller payment than other sources.  At Encentus, you can be the judge of when you need that equity and how you access it because we offer two ways to borrow against the equity in your home! 

Fixed Term Home Equity Loan

If you have a one-time expense you want to pay, this is the way to go.  Terms as long as 20 years and fixed rates will keep your payment affordable.

  • Rates start at 3.00% APR

Home Equity Line of Credit (HELOC)

Maybe you have a few different home improvement projects or just want to have a safety net in case of unexpected expenses.  In these cases, a HELOC is the way to go.  With a HELOC, you are given a line of credit you can pay down and access as many times as you need during the five year draw period.  Access the funds by writing a check or transfer those funds using on-line banking or our mobile app.  During the draw period, you only have to make monthly interest payments.  If you still need funds after the initial five year term, it’s possible to extend your draw period.  After the draw period, your payments will increase.  This is a variable rate loan, so your interest rate could change, but only once a year.

  • Rates start at 4.5% APR

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