Home Equity Loan for 5 Years
as low as
No fees, fixed rate
When life happens, and you need a large sum of money to cover a big expense, a Home Equity Loan from Fidelity Bank is a great tool to turn to. Our great low rates, fast and easy loan process and prompt, courteous service make us the perfect choice for tapping your home’s equity.
If you've lived in your home for a few years, your money has been working hard for you, helping you to accumulate equity. A Fidelity Home Equity Loan can be far less expensive than credit cards and personal loans because the loan amount is secured by your safest collateral – your home. A Fidelity Home Equity Loan can help you:
- Improve your home
- Pay for education
- Pay off debt
- Refinance existing loans
- Buy a new car
- Take a dream vacation
- Other big purchases
What’s best for you: a Home Equity Loan or Line of Credit?
Both home equity loans and home equity lines of credit (HELOC) allow you to tap into your home's equity. The right choice for you is based on your own needs and how you plan to use the money. Compare your options:
||Home Equity Loan (HEL)
||Home Equity Line of Credit (HELOC)
|What’s the difference?
||A HEL is a great option when you’re paying for a one-time purchase like home improvements.
||A HELOC is a great option when you have ongoing financial needs such as college tuition or medical expenses.
|How to I access my money?
||The full loan amount is paid out in one lump sum.
||The loan can be drawn upon when you need it, now or in the future, through a Home Equity Line of Credit Card or by writing checks.
|What is the interest rate?
||Interest rate is fixed for the life of the loan with convenient term length options available.
||Interest rate is variable and is based on the Wall Street Journal prime rate.
|How do I pay the loan back?
||Fixed monthly payments are determined at account opening based on the amount borrowed, the term of the loan and interest rate.
||Monthly payments are based on draw funds plus interest.
When life happens and you need a way to pay for it, we're here to help. For
more information about our Fidelity Home Equity Loans, give us a call at
1-800-388-4380 or stop by one of our full service branches to speak to one of
our friendly loan specialists.
Apply Now Online
*Annual Percentage Rate (APR) effective as of 9/08/14. Check with Fidelity for the full range of flexible rates and terms that are available. Promotional rate requires automatic deduction of payments from a Fidelity Choice Banking (Classic, Fidelity or Green Choice Checking) account and a loan term of up to 60 months. It is also based upon a maximum loan-to-value of 80% and debt-to-income of no more than 43%. “No Fees” feature is available on loans greater than $24,999.99 new money, defined as money not currently borrowed from Fidelity Bank. It is based upon Fidelity’s waiver of all closing costs. “No Fees” loans must remain open for at least 36 months and if closed sooner, borrower agrees to repay Fidelity all waived closing costs. Minimum loan amount is $10,000.00 on 1-4 family owner- occupied properties only. First and second liens only. Property insurance with Fidelity Bank named as mortgagee is required; flood insurance required if applicable. Loans of $100,000.00 or more require title insurance. Example: 60 monthly payments of $17.86 per $1,000 borrowed. Subject to credit approval. Minimum credit score of 710 needed to qualify for promotional rate. Please consult a tax advisor regarding the deductibility of interest. ¹Approved and closed loans received via online application are eligible for a Coleman© Roadtrip Propane Grill, one per household. Offer may change or discontinue at any time; cannot be combined with any other offer.