You can use the equity in your property to consolidate debt. This may allow you to lower the amount you're paying on your total monthly bills.
Should you get a home equity loan or line of credit?
A home equity loan gives you a set amount all at once with monthly payments that stay the same for the life of the loan. With a home equity line of credit, you can access funds over a period of time as needed, and the rate is variable. We can help you determine the best option for your needs.
Home Equity Loan:
Home Equity Line of Credit:
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Low variable rate tied to The Wall Street Journal Prime Rate.
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No annual fee or inactivity fees.
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Convenient access to your line of credit by going online, calling or writing a check.
Plus, BOTH options offer:
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No closing costs or application fees1.
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No pre-payment penalties.
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Up to 90% Loan to Value available for qualified borrowers.
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Potential tax-deductible interest (check with your tax advisor for details).
In addition to an online loan closing, home equity loans will also require one document to be signed in-person. This can be done through the New Britain branch drive-through.
Apply Now
To talk with our Residential Lending Specialist, please call Sheri Motola at 860-828-2790, ext. 8032.