#Equity mortgage #Equity #mortgage

Equity mortgage

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Mortgage & Home Equity

Buying a home is one of the biggest decisions you’ll make. Members Heritage is here to guide you step-by-step through the process. Whether you are purchasing or refinancing a home, we are committed to providing you with the best service, as well as making the home financing process as easy and hassle-free as possible.

We offer a variety of mortgage loan options:

• First Mortgages available in most states.
• Flexible terms available: 10, 15, 20, or 30 years.
• FHA loans, VA loans, and unimproved land loans also available.
• Adjustable rate mortgages (ARM’s) and fixed rates mortgages offered.
• Home insurance coverage plans available.
• No prepayment penalty.

With every mortgage payment you make, you’re building equity in your home. Why not use it for the things you want with a Members Heritage Second Mortgage. These mortgage loans are secured by the equity in your property.

• Fixed rate loan with terms up to 20 years.
• Closed-end, one time advance.
• Flexible payment terms available.
• Loan-to-value ratio up to 100%.
• No prepayment penalty.
• Interest paid may be tax deductible. (consult your tax adviser).
• Available in KY and IN, only.

Variable rate loan with a 7-year draw period (15-year repayment period).

• Specific credit limit set; checks provided for easy access.
• Minimum first time advance is $500; subsequent advances are $100 or more.
• Loan-to-value ratio up to 100%.
• No prepayment penalty.
• Interest paid may be tax deductible (consult your tax advisor)
• Available in KY and IN, only.

*All loans subject to approval. Members Heritage complies with the Equal Credit Opportunity Act.

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SOURCE: http://www.membersheritage.org/loans/mortgage-loans/

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