Fixed Rates & Flexibility
PyraMax Bank’s fixed-rate home equity loans are commonly used for home remodeling, for repairs, or as a convenient way to consolidate debt, credit cards, auto loans, student loans and more.
Bundle all your payments into one easy payment. There are multiple term options to fit your needs. Featuring low closing costs, no annual fees and competitive interest rates, this loan is a great option for most borrowers.
For more information, please consult one of our mortgage lenders.
Home Equity Loan Details
- Term: 5, 7 or 10 years (fixed)
- Loan limits: $5,000 minimum, $150,000 maximum
- Payments: first payment date is 30 to 45 days after closing, but not to fall on the 29th, 30th or 31st of the month
- Automatic payments: available
- Title: letter report (for loans of $5,000 to $99,999) title policy (for loans of $1,000 to $150,000)
- Closing costs: $245.00 (additional fees may apply for loans greater than $99,999)
Home Equity Loan Features
- Monthly payment options: customized to fit your budget
- Interest rate: fixed (interest rate may vary from the stated rates based on credit approval)
- Payment date: choose a date that fits your schedule
- Down payment: subject to credit approval
Home Equity Loans Subject to These Terms
- Minimum loan amount is $5,000.
- Late payment fees will be charged on the 16th day after the payment date.
- To be eligible, the property must be your primary residence.
- Estimated closing costs are $245.
- Loan requests greater than $100,000 are subject to additional out-of-pocket expenses for appraisal and title policy.
- A mortgage on your home will be recorded. Failure to meet your obligations in your agreement with us may result in repossession.
- Interest paid may be tax deductible. Consult a tax advisor for more information.
- Home equity loans that are used as purchase money-first mortgages are subject to additional out-of-pocket expenses.
- Terms greater than 10 years will be a fully amortized adjustable-rate mortgage.
- Homeowner insurance requirements include agent name and phone number, policy number, coverage and deductible.