Home Equity Loan
6.53% APR1
A Desert Community Bank home equity loan can help you score big.
The larger the project, the more daunting it can seem—but not if you allow the equity in your home to carry the load.
Home renovation? Significant debt consolidation? Those projects—and many more—seem much smaller when a home equity loan with fixed monthly payments enters the game.
A HOME EQUITY LOAN DESIGNED FOR YOU:
- Enjoy the reliability of a fixed interest rate for as long as you have your loan
- Receive no prepayment penalties
- Cover large expenses with a one-time, lump-sum payout
- Get the most out of the variety of terms available
- Available for primary residence or owner-occupied second home
You may also be interested in:
1Desert Community Bank Home Equity Loan (HELOAN) is a fixed-rate and term loan for loan amounts of $10,000 - $500,000 with amortization options of 10, 15, and 20 years. Secured by primary residence. Actual annual percentage rate (APR) may vary for loan purchases and loan refinances due to loan programs being offered, lien position, credit history, rates in effect at the time of consummation, loan-to-value (LTV), amortization terms, and other factors. The APR is based loan amount, loan term, interest rate, and includes estimated 15 days of prepaid interest. The APR may change if the loan amount, interest rate, loan term, or number of days of prepaid interest changes. Interest rate discount of 0.25% is available for HELOANs with monthly automatic payments (ACH) established and elected at the time of application to be paid from a borrower’s Desert Community Bank Deposit Account. APR is subject to change at any time prior to consummation. No bank-imposed closing costs. Borrower will be responsible for prepaid interest and all state and government specific charges and taxes. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. Borrower will make monthly principal and interest payments. Borrower is responsible for paying separate property taxes and insurance. Rates apply to new HELOAN accounts and may not apply to existing HELOAN accounts. Borrowers must have verifiable income. Offer not valid in TX. Not a commitment to lend. Programs available only to qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. HELOANs are only offered through a Retail Banking Branch. Some restrictions may apply.
Rate of 6.50%/6.53% APR effective as of May 10, 2021. The annual percentage rate (APR) calculation is based on a $75,000 loan amount, 20-year term loan in second lien position, with an 80% or lower combined loan-to-value (CLTV), and 240 monthly payments of $559.18, and reflects a 0.25% interest rate discount for monthly automatic payments established and elected at the time of application to be paid from a borrower's Desert Community Bank deposit account.
CONSIDERATIONS:
- Fees and charges may vary by product and state.
- Consolidating or refinancing debt may increase the time and/or the finance charges/total loan amount required to repay the debt.
- Please consult your tax advisor regarding the deductibility of interest.
- Important information will be provided to you in the disclosures you receive after we have received your application and in the loan documents you are provided at loan closing.