Make the equity in your home work for you

FAIRWINDS offers a wide variety of home equity options to fit your borrowing needs. Whether you want the convenience and access of a Home Equity Line of Credit, the comfort and security of a fixed-rate Home Equity Loan, or the best of both worlds with a Fixed-Rate Home Equity Line of Credit, FAIRWINDS can help.

Home Equity Line of Credit (HELOC)

Searching for convenience, access, and flexibility? A home equity line of credit is perfect for ongoing home improvement projects, college tuition payments, or an emergency line of credit. Borrow what you need when you need it, up to your available credit limit.

* Certain restrictions apply.

Home Equity Loan

Enjoy the comfort and security of a Fixed-Rate Home Equity Loan. Great for home improvement projects and debt consolidation, this option offers a fixed monthly payment and fixed rate for the life of your loan.

* Certain restrictions apply.

Fixed-Rate Home Equity Line of Credit

The best of both worlds. Combines the flexibility of a line of credit with the security of a fixed rate. By using the equity in your home, you can establish a line of credit and enjoy peace of mind knowing that the funds are available when you need them.

* Certain restrictions apply.

Interest-Only Payment Options

Looking for a low monthly payment? FAIRWINDS offers interest-only payment options to help you stretch your budget. Ask a FAIRWINDS loan officer if this option is right for you.

* Certain restrictions apply.

Home Equity—Which account is right for you?

Looking for convenience and flexibility? A Home Equity Line of Credit offers access as many times as you want, up to your available credit limit, online, in person, or with your Visa® Home Equity Access Card anywhere Visa® is accepted. A FAIRWINDS Home Equity Line of Credit is perfect for ongoing expenses such as home improvements or college tuition.

Want the security of a fixed rate and monthly payment? Lock in your rate and monthly payment with a Home Equity Loan. Because you receive the funds all at once, a Home Equity Loan is perfect for home improvement projects with a one-time payment or large purchases such as a new car, boat, or RV.

Want the best of both worlds? FAIRWINDS fixed-rate Home Equity Line of Credit offers a fixed rate combined with unlimited access, up to your available credit limit, for the first two years on your loan.

Looking for low monthly payments? Interest-only payment options may be a good fit if you plan on selling your home in the near future or are looking for a little room in your monthly budget. Your FAIRWINDS loan officer can help you decide if interest-only payment options are right for you.

Comparison Chart
Fixed Rate Adjustable Rate (ARM)

Advantages

Fixed payments make budgeting easier Lower initial payments make it easier to qualify for a higher mortgage amount

Ideal for

Persons looking for fixed payments or plan to remain in the home long-term First-time home buyers, persons not planning to live in the home more than a few years

Rates

Stays the same over the life of the loan Changes based on yearly adjustment schedule

Payments

Fixed over the life of the loan Changes as rate is adjusted yearly

As market rates increase…

No increase in payments Rates and payments will increase as market rates climb

As market rates decrease…

Rates remain the same. You may apply for refinancing in order to lower your rate, but you will have to pay closing costs. Mortgage rates decrease as rates decline in the market

Terms offered

10, 15, 20 and 30 year terms Up to 30 year terms with adjustment periods of three to ten years
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Fixed Rate
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Adjustable Rate (ARM)
Home Equity Fixed Rate Home Equity Fixed Rate Line of Credit Home Equity Variable Line of Credit Home Equity Interest Only Line of Credit
APR* Regular Rate:
4.18% - 16.96% 5.50% - 12.00% As low as 4.50%**
With 2,500 Relationship Rewards Points:
3.93% - 16.71% No discount No discount
With 5,000 Relationship Rewards Points:
3.68% - 16.46% No discount No discount
Home Equity Fixed Rate Home Equity Fixed Rate Line of Credit Home Equity Variable Line of Credit Home Equity Interest Only Line of Credit
Rate Fixed Based on Prime Rate***
Payment Options Principal and Interest 1% of outstanding balance Accrued interest
Repay Period 5 years - 20 years 5 years - 15 years 30 years
Draw Period Not Available 2 years 15 years
Maximum Financing Up to 90% of home's value excluding existing mortages Up to 70% of home's value excluding existing mortages

Rates are subject to change without notice without notice.
* APR = Annual Percentage Rate
** Your actual rate will be based on your credit quality, loan to value, and actual term.
*** Variable rates potentially adjust monthly and are based upon the Prime Rate published in The Wall Street Journal.