Great lending options with no closing or application costs

 

Get access to a credit line; use the funds now or later.4

 

Get a specific amount at a fixed rate, term and monthly payment.4

 

Refinance a first mortgage or consolidate first and second mortgages with this term loan solution.4
Are you putting your equity to work?

HELOC 101: Take advantage of your equity

Do you own a home that is worth more than the amount that is owed on the mortgage? You may be eligible for a line of credit secured by the equity you have in your home. This type of credit is called a home equity line of credit and in many cases is easier to qualify for with lower interest rates than other forms of credit. Whether you are ready to obtain a graduate degree or take the vacation of your dreams, life is better with equity.

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Making sense of loan-to-value

Are you considering a home equity line of credit? It is important to understand the concept of loan-to-value (LTV) and the effect it will have on how much you can borrow. Loan-to-value ratio gives you a percentage of the home loan compared to the appraised value of your home. Essentially, LTV will impact the maximum amount you can borrow when applying for a home equity line of credit or home equity loan solution.

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Is a HELOC right for you?

While a HELOC may be an appealing home equity solution for many, it isn’t the right option for everyone. Home equity lines of credit represent just one of the lending options we offer at First Financial Bank. This blog explores some reasons a HELOC might be right for you, some reasons it might not, as well as alternative products and solutions to meet your needs.

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Uses for your HELOC

Home equity lines of credit are a hyper-flexible way of turning the equity that you already have in your home into usable funds for a variety of projects. Because a HELOC is like other forms of credit, you have a great number of options in how you use your funds. Check out this blog for five possible uses for the funds in your home equity line of credit.

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Which option is right for you?

Home Equity Line of Credit

Get access to a credit line to use the funds now or in the future.4

  • Finance home renovations or repairs
  • Access your available credit when you need it
  • Flexible repayment options

Home Equity Installment

Receive a specific amount of money at a fixed rate, term and monthly payment.4

  • Finance home renovations or repairs
  • Receive loan proceeds in a lump sum
  • Fixed repayment terms up to 25 years
  • Low fixed rates

RAPIDRefi

Refinance a first mortgage or consolidate first and second mortgages with this term loan solution.4

  • Quick and easy first mortgage refinance option
  • Fixed repayment terms up to 20 years
  • Interest may be tax deductible5

Using your home equity line of credit is easy

Whether you need to pay a contractor or buy something online or in-store, you can easily pay for expenses by swiping your debit card, writing a check or transferring money to your checking account with online banking. You can also track and manage your purchases and view your available balance at any time by logging in to online banking.