Your home may be your most valuable asset, and borrowing against your equity in it could free up cash. Whether you are adding an outdoor living space, remodeling your kitchen or finally taking a honeymoon, our Home Equity Loans are your key to getting more out of life.
Finance your next home improvement project, from adding a room to remodeling your kitchen.
Go on your dream vacation.
Easily consolidate your bills.
Cover medical expenses that are beyond what your health insurance pays.
What is Home Equity?
Home equity is the value of a homeowner’s financial interest in their home. In other words, it is the difference between the home’s fair market value and the outstanding balance of all liens on the property. Home equity loans are a great option because they are tax deductible and have favorable interest rates. Put your home’s equity to work for you!
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) is a revolving line of credit, similar to a credit card, where you can use the money as you need it up to a predetermined limit. You repay the debt in monthly payments. You accrue interest only on the funds you use, regardless of your loan limit. A benefit of the HELOC is that it can be set up ahead of time so you do not have to go through the application/approval process each time you need additional funds. Some of the features of a First Bank Kansas HELOC are no annual fee, 10-year draw period, easy access to your account, advance any amount you need up to your credit limit (subject to $100 minimum), and enjoy an economical way to finance projects.
Home Equity / Second Mortgage
A home equity loan gives you a set amount of funds at one time. The amount you qualify to borrow is based on a percentage of your home’s value. First Bank Kansas home equity installment loans can have fixed or variable interest rates and up to a 15-year payback period.
Contact our knowledgeable lenders to learn more!
At First Bank Kansas, we work with you personally and want to know your story. Our lenders are here to share their expert advice and help you use the equity in your home.