Use Your Home's Equity for Immediate Cash Needs
You need cash, your home's equity can help. Depending on your financial situation, a home equity loan or line of credit (HELOC) may be the best solution. Both a Home Equity Loan and a HELOC use the equity you have built-up in your home to secure cash to be used for any number of expenses.
Home Equity Loans offer fixed rates, and predictable payments.
Funds from home equity loans can be used for nearly anything, but are mostly used for large home renovations, like a new roof, or windows, additions like a shed or garage, or finishing a basement.
The home equity loan process is simple and has several benefits:
- You receive your loan amount in a lump sum
- Your interest is set up front, and each payment goes toward paying down the balance of the loan
- Home equity loans generally have lower interest rates than consumer loans and credit cards
- There are tax benefits to using a home equity loan. Speak with your tax advisor for full details on these tax advantages
Our lenders can help you understand if a home equity loan is an ideal solution based on your financial situation, or if you're better suited for another product we offer.
HELOCs offer credit card-style flexibility with lower interest.
When you need cash, but don't need it all at once, a home equity line of credit, or HELOC, could be your ideal solution.
Unlike a home equity loan, which is disbursed as a single lump sum of cash, a home equity line of credit is a revolving line of credit for you to draw on as you need.
Benefits of using a home equity line of credit:
- Once it is set up, you use it when you need it, and you only pay back what you use plus any accrued interest.
- HELOCs generally have lower interest rates than credit cards while retaining the same type of use-it-when-needed flexibility.
- The interest you pay on your HELOC may be tax deductible (consult your tax advisor for more information)
Our lenders can help you determine if a home equity line of credit is suited for your need, or if we have better product that fits better and is more beneficial to your bottom line.
Falcon National Bank NMLS #402625
Get started today!
The first step to a home equity loan or HELOC is getting in touch with any of our lenders to discuss your specific needs.
St. Cloud
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Jeb Willis
SVP of Mortgage Banking
NMLS: 789498
Locations:
St. CloudDivisions:
Mortgage Banking, Leadership, Consumer BankingPhone: (320) 968-6195
Foley
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Karen Abfalter
Mortgage Banker
NMLS: 1691558
Locations:
FoleyDivisions:
Mortgage Banking, Consumer BankingPhone: (320) 968-2046
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Sara Tiahrt
Mortgage Banker
NMLS: 995236
Locations:
FoleyDivisions:
Mortgage Banking, Consumer BankingPhone: (320) 968-2026
Maple Grove
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Alyssa Weidendorf
Mortgage Banker
NMLS: 1790736
Locations:
Maple GroveDivisions:
Mortgage Banking, Consumer BankingPhone: (763) 777-5533
Ham Lake
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Michelle Page
Mortgage Banker
NMLS: #1576798
Locations:
Ham LakeDivisions:
Mortgage Banking, Consumer BankingPhone: (763) 235-3957
Richmond
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Steven Nies
Mortgage and Consumer Banker/VP
NMLS: 697065
Locations:
RichmondDivisions:
Mortgage Banking, Residential Loans, Consumer BankingPhone: (320) 597-2145