Warmer temperatures are right around the corner and now is the perfect time to spring into action with a home equity loan! You’ve worked hard for your home. Now let your home work hard for you. As a homeowner, you may have heard about home equity loans. With a home equity loan, you have the flexibility to tackle a variety of projects using the equity in your home. Whether you want to spruce up your home for spring, plan a vacation or consolidate debt, you can do it on your terms with help from Franklin Savings Bank.

 

What is a home equity loan?

A home equity loan is a loan secured by a subordinate mortgage on one’s primary residence. A traditional home equity loan provides lump-sum proceeds at the time the loan is closed.

 

Benefits of a home equity loan:

There are many benefits of getting a home equity loan through Franklin Savings Bank including:

  • Fixed interest rates
  • Fixed monthly payments
  • One lump-sum distribution at closing
  • Interest may be tax deductible*
  • Quick processing time
  • Variety of terms
  • Competitive rates

 

What are some examples of ways that you can use a home equity loan?

Whether it is one large project or multiple small projects, a home equity loan can allow you to:

  • Improve the energy efficiency of your home
  • Paint or install siding on the exterior of your home
  • Roof repair or replacement
  • Pay for education expenses
  • Take a well-deserved vacation
  • Remodel your kitchen
  • Pay off high-interest credit card debt

 

Ready to get started?

Our goal at Franklin Savings Bank is to make applying for a loan as simple as possible. FSB’s well-trained, professional, and dedicated staff love helping customers through the process. Contact our residential lending team today at 603.934.4445 or 1.800.483.4445 to schedule an in-office appointment or apply online today from the convenience of your home.

 

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*Consult your qualified tax advisor for more information.

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