You've got plans. We've got solutions to match them.
Home Equity Solutions
Where do you find a source of funds with rates substantially lower than the interest on most credit cards? Look no further than your home. If you want to renovate your home, consolidate debt, make a major purchase, or pay for college, using the equity 
in your home could be the right choice. And the interest payments can potentially be tax deductible.1
- Your home can take you where you need to go. We'll show you how.
Home Equity Lines of Credit:
A great alternative to high interest credit cards
- Financing from $10,000 to $500,000 (or more upon request).
- Choice of terms from 10 to 25 years.
- Option of interest-only payments during the first 10 years.5
- No lender closing costs.5
- Easy access to funds with a checkbook.
Home Equity Loans:
The Security of a Fixed Interest Rate and Consistent Monthly Payments
- Financing from $10,000 to $500,000 (or more upon request).
- Choice of terms from 10 to 30 years.
- Can be combined with a first mortgage to avoid costly mortgage insurance premiums.
How can I be sure that using the equity in my home as collateral for a loan is right for me? And are there any associated risks I should be aware of?
A home equity line of credit lets you borrow money by using the equity in your home as collateral. They offer interest rates that are generally lower than most credit cards. A major benefit for you is that, in many cases, the interest payment on a home equity loan or line of credit is tax deductible1. You can use these funding solutions to consolidate your debt, renovate your home, pay for tuition, or major purchases. Home equity lines of credit can also be used as a ready source of funds to use on an as needed basis.
Since your home secures these loans, we feel it's important that you have a repayment plan in place. Like a first mortgage, a default on these loans could result in a loss of your home. Additionally, you should be aware that home equity lines of credit have variable interest rates generally based on the prime rate (as reported in The Wall Street Journal) so your monthly payments could fluctuate. If you require additional money and don't want a second payment on your home, then you might consider refinancing and cashing out a portion of the equity in your home with a fixed-rate or adjustable-rate mortgage.
I'm interested in applying for an adjustable-rate mortgage, what's my next step?
- EverBank® offers the following flexible options to start your home equity solution: Get Started and we'll contact you, or contact a Mortgage Specialist at: 877.436.4381.
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