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Home Equity Loans

Turn the equity in your home into the cash you need, with instant access and flexible repayment terms. And, unlike credit card interest, home equity interest is often tax deductible, so check with your tax professional.

 

Home Equity Installment Loan

If you want to borrow money and have equity in your owner-occupied primary or secondary residence, you may be eligible for a Home Equity Installment Loan. Kish is able to structure the loan to fit your specific needs, whether it’s a home improvement project or college tuition. Our rates are fixed, so you have the security of knowing the rate on your loan will never change.

Home Equity Installment Loan Application Checklist

 

FlexLine Home Equity Line of Credit

Combine the flexibility of a variable rate line of credit with the dependability of a fixed term loan with a Kish Bank FlexLine of Credit.  A FlexLine is an innovative home equity line of credit that allows you to lock up to five installments under the line into a fixed term, a fixed rate, and a fixed payment.  After a one-time approval process, you can have access to your line for up to 15 years, allowing you to meet periodic financial needs. Your credit line can be accessed at any time by loan checks, transferring the funds with Kish Bank OnLine Banking, or at a branch, and the funds can be used to pay for just about anything—vehicles, home improvements, college tuition, travel expenses, or debt consolidation.
 

The Kish FlexLine is great when you need a little extra cash or protection from occasional overdraft charges.

 

$100,000 FlexLine Example:
 

 

  1. FlexLine #1 is for $40,000.00 to finance a new kitchen and other home repairs.  The rate of this FlexLine loan is fixed and the term is 15 years.
  2. FlexLine #2 is for $20,000.00 to finance a daughter’s wedding.  The rate of this FlexLine loan is fixed and the term is five years. 
  3. FlexLine #3 is for $10,000.00 to help finance a new car.  The rate of this FlexLine loan is fixed and the term is three years.
  4. The remaining FlexLine is still available for other purchases as needed.  As you repay the loan, funds become available again for future needs.

Loan Rates

Home Equity Installment Loan 5-Year Fixed 10-Year Fixed 15-Year Fixed
Loan-to-Value </= 80%

Rate

3.94%

5.18%

5.95%

APR

4.06%

5.25%

6.00%

Payment

$459.74

$267.37

$210.29

Loan-to-Value 80.01% - 90%

Rate

4.69%

5.93%

6.70%

APR

4.81%

6.00%

6.75%

Payment

$468.24

$276.67

$220.53

The Annual Percentage Rate (APR) shown is available for well-qualified applicants as of 02/06/2014. APR shown requires automatic payments from a Kish Bank account and property insurance. Flood insurance may be required. All APR and estimated payments are based on a loan amount of $25,000 and do not include taxes and insurance.

 
Home Equity FlexLine of Credit Annual Percentage Rate Margin Index (Prime)

Loan-to-Value </= 80%

3.50%

0.25%

3.25%

Loan-to-Value 80.01% - 90%

4.25%

1.00%

3.25%

The Annual Percentage Rate (APR) shown is available for well-qualified appplicants as of 05/08/2013.APR currently ranges from 3.50% to 4.25%, 15-year term with a LTV of 90% or less and auto-drafting from a Kish Bank account. Maximum interest rate is 21% or maximum allowed by law. Monthly payment is 1.0% of outstanding balance with a minimum of $40.00. If the minimum monthly payment is made during the term of the loan, the final payment may result in a balloon payment. Fees to establish the plan generally total between $260 and $560. Property insurance is required and flood insurance may be required.


To view all rates, click here.

 

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