Home Equity and Home Improvement Loans – Personal - Borrow - Veridian

Personal

Home Equity Loans

Home Equity is the difference between what your home is worth and how much you owe.

Start using your equity!

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The amount of money you can borrow depends on the equity you have in your home. Home equity loans have favorable rates and low closing costs. Want more? Check out our Home Equity video series!



Home Equity Loan

  • A one-time fixed-rate loan
  • Borrow up to 100% of your home's equity
  • Available with terms of 5, 10, 15, or 20 years 



HELOC

  • Open-end revolving line of credit
  • Borrow up to 100% of your home's equity for up to 25 years.
  • Available 5-year fixed, 10-year fixed, and variable options.
  • Your minimum monthly payment is 1% of your balance.



10 & Done Loan

Our 10 & Done Loan is like getting a 10-year fixed-rate mortgage, with a fraction of the closing costs and less paperwork and fees than a typical refinance.

  • Simple closing process
  • Closing costs could be as low as $200
  • Low, fixed rate for 10 years



Home Improvement Loan

Allows you to finance a home improvement project without the equity in your home. Borrow up to $25,000 with terms up to 180 months.

With equity, secure financing for up to 133% of your home's value, to a maximum of $250,000 with available terms of 5, 10, or 15 years.

APR = Annual Percentage Rate. For a $25,000 home equity loan amortized for 60 months and a 4.10% APR, the monthly payment will be $462(taxes and insurance premiums not included). Add 2.0-2.5% to interest rate for loans with loan-to-value ratio over 80%. Appraisal fees may apply. Loyalty Discount of 0.25% APR for enrolling in direct deposit of net income and automatic loan payments from a Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term.

APR = Annual Percentage Rate. For a $50,000 home equity loan amortized for 240 months and a 5.25% APR, the monthly payment will be $337 (taxes and insurance premiums not included). Loan–to-value ratio must not exceed 80% to qualify for loan. Appraisal fees may apply.

APR = Annual Percentage Rate. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments using your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Rate fixed for first 60 or 120 months of the 25-year term; after that, the rate is variable and the maximum APR is 21%. Add 2.0-2.5% to interest rate for home equity lines of credit with loan-to-value ratios over 80% (maximum of 100%). Rate may not be used in conjunction with first-mortgage loans. Closing costs as low as $200. Appraisal fees may apply. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval. See Veridian for details.

APR = Annual Percentage Rate. Fixed loan rate and expressed “as low as.” Loans subject to approval. Rates, terms and conditions subject to change and may vary based on qualifications, including creditworthiness, loan-to-value ratio and collateral conditions. Loan must be in first lien position. Includes Loyalty Discount of 0.25% APR for enrollment in direct deposit of net income and automatic payments from a Veridian account. Borrowers lose Loyalty Discount if they fail to meet qualifications during loan term. For a $50,000 10 & Done Loan amortized for 120 months at 4.09% APR, the monthly payment will be $509 (monthly payment does not include amounts for taxes and insurance premiums, so the actual payment may be greater). Appraisal fees may apply. Any advertised closing costs assume title guaranty and appraisal are not required. Additional costs may apply.

APR = Annual Percentage Rate. Loans subject to credit approval. Rates, terms and conditions subject to change without notice and may vary based on creditworthiness, qualifications and collateral conditions. For a $20,000 Home Improvement Loan amortized for 120 months at 6.45% APR, the monthly payment will be $227. Appraisal fees may apply. Interest on any loan amount greater than the fair market value of the property is not tax-deductible for federal income tax purposes. Consult your tax advisor for further information regarding the deductibility of interest and charges.

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