Home Equity Installment Loans from Investment Savings Bank
Put the equity in your home to use with a Home Equity Installment Loan from Investment Savings Bank. Call or stop in to talk with one of our banking professionals in Altoona or Duncansville and see how a Home Equity Installment Loan may be the right way to pay for a purchase, refinance or home improvement.
Availability:
Home Equity [Installment] Loans are available to any person 18 years or older to use for personal, family, or household purposes. They are secured by your real estate and the amount available is based on the equity in your home.
Use:
Use the Home Equity Installment Loan for one-time expenses, such as Home Improvements and Major Purchases (Boat, Automobile, or Appliances). You can also use it for Debt Consolidation, Vacation, and Higher Education.
Benefits:
- Competitive closing costs.
- Competitive fixed interest rates.
- Interest may be tax-deductible. Consult your tax advisor.
- No penalty charge if the loan is repaid early.
Minimum Loan Amount: $5,000.00
Maximum Loan Amount: 85% of the appraised value of the property less amount owed on mortgage. For owner occupied and second home (non-income producing) properties.
See Home Equity Loan Rates Below
Home Equity Installment Loan
| TERM IN MONTHS | INTEREST RATE | ANNUAL PERCENTAGE RATE | MONTHLY PAYMENT per $1,000 |
|---|---|---|---|
| 60 Months | 6.00% | 6.00% (1)(2)(3) | $19.33 |
| 120 Months | 6.25% | 6.25% (1)(2)(3) | $11.23 |
| 180 Months | 6.50% | 6.50% (1)(2)(3) | $ 8.71 |
| 240 Months | 6.75% | 6.75% (1)(2)(3) | $ 7.60 |
Payment does not include amounts for taxes and insurance. Actual payment obligation will be greater.
Home must be borrower’s primary residence. Loans up to 85% of appraisal valuation, less amount currently owed, if any.
(1) Annual Percentage Rate is based on the minimum loan amount of $5,000 (2) Minimum new loan amount of $5,000. (Other rates and terms available) (3) A refinance of any ISB loan requires new borrowings of $10,000 or more. Other rates and terms are available.
*** RATES SUBJECT TO CHANGE AT ANYTIME WITHOUT NOTICE ***
