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Home Equity Loans

Home Equity Loans Put your plans within reach.

With a Home Equity Line of Credit, you can use the equity you’ve built up in your home to pay for home improvements, bill consolidation, or college tuition.

No Annual Fee or Prepayment Penalties
Up to 20-Year Terms Available
Borrow up to 90% of Your Home's Equity
Tax Deductions**

Closing costs range from $0 to $1,500, including required property appraisal. $75 Conversion Fee (FINANCE CHARGE) applies when converting to or from a fixed rate loan, and is waived if conversion option taken when loan account is established. Maximum APR 18%. Property insurance required. Autopay from any Rivermark account.
**Consult your tax advisor.

Calculators
How a Home Equity Loan Works
Rates

How much equity do I have in my home?
What is the return on investment for my home?

How a Home Equity Loan Works

You can fix the rate on up to three balances for different purposes and still have your line of credit available for future purchases or emergencies.


Home Equity Loan²07-01-2010
Loan Type	Amount Financed	Repayment Period	Annual Percentage Rate with Auto Pay¹	Annual Percentage Rate no Auto Pay
80% Convertible	Minimum $5,000 Up to 80% of Assessed Value Less Any Existing Mortgage	7 Years	4.99%	5.24%
80% Convertible	Minimum $5,000 Up to 80% of Assessed Value Less Any Existing Mortgage	10 Years	5.99%	6.24%
80% Convertible	Minimum $5,000 Up to 80% of Assessed Value Less Any Existing Mortgage	15 Years	6.49%	6.74%
80% Convertible	Minimum $5,000 Up to 80% of Assessed Value Less Any Existing Mortgage	20 Years	6.49%	6.74%
90% Convertible	Minimum $5,000 81-90% of Assessed Value Less Any Existing Mortgage	7 Years	5.99%	6.24%
90% Convertible	Minimum $5,000 81-90% of Assessed Value Less Any Existing Mortgage	10 Years	6.99%	7.24%
90% Convertible	Minimum $5,000 81-90% of Assessed Value Less Any Existing Mortgage	15 Years	7.49%	7.74%
90% Convertible	Minimum $5,000 81-90% of Assessed Value Less Any Existing Mortgage	20 Years	7.49%	7.74%
³
¹Autopay from any Rivermark account. ²Convertible Home Equity Line Of Credit is subject to a Variable Rate which is based on the highest Prime Rate as published in the Money Rates Section of The Wall Street Journal on the last business day of each month (Index) plus a margin. The Index plus the Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate on the first day of each billing cycle. The Interest Rate will never be less than 4.00% or greater than 18.00%. No annual fee. No origination fee. Title Report/Recording: $100 for $150,000 or less; Actual cost over $250 for over $150,000. ³Convertible Home Equity Loan fixed APRs ranging from 4.99% to 7.74% are effective as of June 1, 2010, are subject to credit and collateral approval and use of auto-transfer pay-ment option. Closing costs range from $0 to $1,500, including required property appraisal. $75 Conversion Fee (FINANCE CHARGE) applies when converting to or from a fixed rate loan, and is waived if conversion option taken when loan account is established. Maximum APR 18%. Property insurance required.

Loans & Credit Cards

What Our Members Say

"Reanna did an outstanding job getting us approved for a Home Equity Line of Credit. She went the extra mile, knowing we were under an intense deadline.”