Home Equity Loans
Home Equity Loans & Line of Credit
Thinking about home improvements? Need money for travel or education? A home equity loan can help, and the interest may be tax deductible (consult with your tax advisor). First Digital offers fixed rate, closed-end fully amortized home equity loans and an open-end variable rate line of credit.
Fixed Rate Home Equity Loan
- Fixed rate of interest & payment amount
- Terms up to 20 years
- Combined loan-to-value ratio up to 90%
- Owner occupied primary residence only
- Maximum $50,000 loan amount unless your 1st mortgage is with First Digital
Variable Rate Home Equity Line of Credit (HELOC)
- 5-year draw period
- Renewable up to 2 times (total 15-year draw period)
- Converts to fixed rate and 15-year repayment term post draw period
- Combined loan-to-value ratio up to 90%
- Monthly payment of 1.5% of balance or $150, whichever is greater
- Owner occupied primary residence only
- Maximum $50,000 credit limit
Speak to a Mortgage Loan Consultant
Ready to get started? Apply online or contact Michael or Raul, also available by appointment at any branch.
Michael Bradshaw
Mortgage Sales Manager | NMLS #192893
503.258.2618 | Toll Free 800.444.5858, opt. 4
[email protected]
See what Michael’s members are saying about him online.
Raul Marquez
Mortgage Loan Officer | NMLS #1289570
503.258.2777 | Toll Free 800.444.5858, opt. 4
[email protected]