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Home Equity Loans & Lines

No matter what your dreams, Alliance’s Home Equity Loans are a smart way to get cash. You’ve worked hard to increase your home’s equity, so why not take advantage of it? The amount of money you can borrow is based on a number of factors, such as the current value of your home, the available equity in your home, and other qualifying criteria. Choose from a variety of rates and terms to get the loan that’s right for you.

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Home Equity Line of Credit (HELOC)

Our Home Equity Line of Credit (HELOC) loan allows you to turn the equity in your home into cash funds that can be used at your convenience. We offer Fixed and Adjustable rate products.

HELOC details:

  • A HELOC is a revolving line of credit that can be drawn upon as needed. It operates in a similar manner to a credit card, but usually has a much lower interest rate and higher limit.
  • The interest rate can be variable or fixed with rate and amount of credit line being determined by the current value of your home and other qualifying criteria.
  • Alliance will generally lend up to 90% of the value of your home.
  • There is a five -year initial draw period.
    • Payments are based on a 20-year term and the monthly balance of the loan. Once the initial draw period is over, the loan will be reset for another 20 years.
  • No pre-payment penalty fees

BENEFITS – Why a HELOC?

  • LOW RATE on revolving credit
  • Turn your home into cash to use for large expenses, such as medical bills, home improvements, pay off other high interest loans or credit cards debts or for life’s unexpected financial needs. You can use the money as you wish!
  • College Tuition – Students from families with high incomes might not be able to qualify for grants or need-based scholarships, making their parents’ home-equity loan the best way to pay the tuition.
  • Easily access funds through line of credit checks or advances
  • Interest may be tax deductible (please consult a tax advisor)

Note: All Appraisal costs will be paid by the borrower in advance.

Fixed-Rate Home Equity Loans

A Fixed-Rate Home Equity Loan provides you with a fixed rate and payments for the life of the loan. We offer several terms.

Fixed-Rate Home Equity Loan details:

  • Rate is fixed and your monthly payment will not change through the life of the loan!
  • The interest rate and loan amount is determined by the current value of your home and other qualifying criteria.
  • Alliance will generally lend up to 90% of the value of your home.
  • Interest may be tax deductible (please consult a tax advisor)

BENEFITS – Why a Fixed-Rate Home Equity Loan?

  • A fixed rate give you a surprise-free monthly payment
  • Turn your home into cash to use for large expenses, such as medical bills, home improvements, pay off other high interest loans or credit cards debts or for life’s unexpected financial needs. You can use the money as you wish!
  • College Tuition – Students from families with high incomes might not be able to qualify for grants or need-based scholarships, making their parents’ home-equity loan the best way to pay the tuition.
  • Interest may be tax deductible (please consult a tax advisor)

Note: All Appraisal costs will be paid by borrower in advance.

Have questions?

Call a Home Loan Specialist at (636) 343-7005, option 3 or visit a branch near you. We’re happy to answer any of your questions!

Ready to apply?

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