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 Home equity lines of credit and home equity fixed loans are popular ways to access additional cash using the equity that you have in your home. You can use the money for anything you need, including home improvements, a vacation, back to school expenses, college education or to consolidate your bills.
For additional information about KALSEE's Home Equity Loan Program, please contact the Loan Department at the Millcork Street office by Phone: (269) 382-7800 or Toll Free: (877) KALSEE1
RATE
- Variable
- at Prime Rate
- Maximum of 15%
- Adjusted Quarterly
TERM
- 15 Years (Can re-borrow for the first 8 years)
- No Pre-Payment Penalty
AMOUNT
- $5,000.00 Minimum
- $100,000.00 Maximum
- Will loan 80% of either the appraised value or double the state equalized value (SEV) less any mortgage balance
LIMITATIONS
- Must be Owner Occupied
- Residence or Secondary Residence
- No Land Contract Situations
COSTS
- $25.00 Application Fee
- $200.00 Appraisal Fee (Only needed if SEV is out of line)
- $90.00 for Title Insurance
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