Use it for:
Common home renovations & repairs:
- Kitchen & bath remodeling
- New flooring
- Decks & patios
- Windows & siding
- Roofing
- Standby Generators
- Add-ons
Other:
- Debt consolidation
- Take a family vacation
- Student loan debt
- Children’s college
- Pay off a vehicle loan
- Buy a new vehicle
- OR anything else you may need!!
Quick Equity
Home Equity Line of Credit
QE 1
- Line of credit up to $25,000, use only what you need!
- No Appraisal required for home owners with a Loan to Value ratio of 80% or less*.
- Minimal closing costs** which can be rolled into the loan.
- Affordable monthly payments.
- Predictable due date- payments always due on the 28th of the month.
- Adjustable Annual Percentage Rate with a minimum of 5.000% and a maximum of 14.000%
QE 2
- Line of credit up to $25,000, use only what you need!
- For home owners with a Loan to Value Ratio up to 100%***. Appraisal not usually required*, however certain loan condition may require a formal appraisal.
- Minimal closing costs** which can be rolled into the loan.
- Affordable monthly payments.
- Predictable due date- payments always due on the 28th of the month.
- Adjustable Annual Percentage Rate is calculated as the Prime Rate plus 2.000% with a minimum of 6.000% and a maximum of 14.000%.
*Equifax Valuation tool (HVE) is used.
**Closing Costs include: HVE and Property Condition Report ($52), Title Policy (Ranges from $188 to $251 depending on the location/size), Recording of Mortgage ($30), and Flood Search ($15). Total would be $285 to $348 in closing costs.
***Requires underwriting approval (NPF).
Other things you should know
»The QE 1 and QE 2 are revolving lines of credit that use the equity in your home as security. This means that if you fail to make your payments you may put your home ownership in jeopardy. The monthly payment amount is calculated as 1.000% of the outstanding balance with a minimum payment of $50.00.
»The Annual Percentage Rate (APR) for the QE1 is adjustable based on the Prime Lending Rate as published in the Money Rate Section of the Wall Street Journal. If the Prime Rate changes the rate on the QE1 will adjust on the 1st day of the following month. The QE1 has a minimum APR of 5.000% and a maximum of 14.000%.
»The Annual Percentage Rate (APR) for the QE2 is adjustable based on the Prime Lending Rate as published in the Money Rates Section of the Wall Street Journal. It is calculated as the Prime Rate plus 2.000% with a minimum APR of 6.000% and a maximum of 14.000%. If the Prime Rate changes the rate on the QE2 will adjust on the 1st day of the following month.
We'll be at the 23rd annual Lansing Home & Garden Show!
Come get inspiration for your home renovations!
Quick Equity Inquiry
Call us
Lansing: 517.372.2400
Eaton Rapids: 517.663.8176
Battle Creek: 269.964.2713