Home Loans
Second Mortgages/Home Equity Lines of Credit
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Second mortgages (also called home equity loans) offer you the ability to use the equity in your home to get the money you need for anything from home improvements, to paying off bills, or taking a vacation�the list of possibilities goes on and on.
Some features include:
- A fixed interest rate
- Terms that are up to 15 years in length
- Little or no closing costs
- A variety of payment options
- Interest payments that may be tax deductible (consult your tax advisor to see if this applies to you)
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Home Equity Line of Credit
A Home Equity Line of Credit - or HELOC - is a second mortgage with slightly different features than the conventional home equity loan.
Some features include:
- A variable interest rate
- Low monthly payments of 1.5% of the outstanding balance or $100.00 (whichever is greater)
- A revolving limit from which one may draw for 8 years
- A variety of payment options
- Little or no closing costs
- No annual fee
- Easy advances online through Account Access or the BMEXpressline
- The option to link the HELOC Advantage debit card directly to your HELOC to easily track purchases
- Interest payments that may be tax deductible (consult your tax advisor to see if this applies to you)
Click here to apply for a loan
Click here for the loan calculator
Still have more questions as to which second mortgage product is best for you? Please feel free to call us at 303-441-7800 or stop by anytime to speak with one of our loan officers.
