Scottsdale Community Bank has a number of Home Equity Loans* that are tailor-made for every situation. Whether you are looking to lock in a rate or you wish to have the flexibility to write your own loan using the equity in your home, Scottsdale Community Bank has the solution you are looking for.
Home Equity Installment Loan
Our Home Equity Installment Loan is a fixed-rate, secured loan that is used for general purposes.
This Home Equity product offers:
- No pre-payment penalty
- A first or second lien on your primary residence
- Terms can be fixed to meet client repayment needs
- Monthly payments are fixed for the life of the loan
- Automatic payment draft available from a bank account
- Property insurance is required
- Escrow is available
For an even greater savings, we offer a bi-weekly payment option that allows you to pay your loan every two weeks resulting in considerable interest savings over the life of your loan. Bi-weekly payments need to be drafted from an account.
Home Equity First
Scottsdale Community Bank’s Home Equity First is a fixed-rate loan secured with a first mortgage on your residence that offers lower rates and longer terms than a conventional home equity program. With a Scottsdale Community Bank Home Equity First, you can have the necessary funding to achieve your goals. Enjoy the spending power you need, relax knowing your rate and your monthly payments are fixed, and possibly benefit from a deduction at tax time, please contact your tax advisor. With rates on the rise, now is the time to take action!
This Home Equity product offers:
- No pre-payment penalty
- No points
- A first lien on a primary residence
- Automatic payment draft available from a Scottsdale Community Bank deposit account
- Loan is subject to credit approval
- Property insurance is required
- Escrow is available
For an even greater savings, we offer a bi-weekly payment option that allows you to pay your loan every two weeks resulting in considerable interest savings over the life of your loan. Bi-weekly payments need to be drafted from a Scottsdale Community Bank deposit account.
* TAX DEDUCTIBILITY. You should consult a tax advisor regarding the deductibility of interest and charges for the Plans.
