Options to meet your borrowing needs
With a home equity loan, you can select the options that best meet your needs. Get a high borrowing amount, a lower interest rate, or a longer payment term to reduce your monthly payment. Your rate and payments will be fixed for the term of your loan until the balance is paid off. This provides easy budgeting and protection against rate fluctuations. A home equity loan is a secured loan, and the interest paid may be tax-deductible.*
Home equity is the difference between the current market value of your home and the amount you still owe on any mortgage or loan that is secured by your home. The borrowing amount is determined by calculating the value of your house and subtracting the mortgage amount and any other outstanding loans that are secured by your home.
Our Fixed Home Equity Term Loan is a good option for a one-time borrowing need such as home improvements, refinancing your mortgage, or debt consolidation. Because of the shorter terms, you'll build equity faster and pay off the loan earlier. You'll also save money on reduced closing costs.
Dollar Bank is on your side. That’s our promise to our communities. Just one example is the fact that your local Dollar Bank loan experts are non-commissioned and dedicated to servicing your needs above all else.
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*Consult your tax advisor regarding the deductibility of interest.