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Home Equity Lending

A Home Equity Line of Credit or Home Equity Installment Loan may be a low-cost solution to access funds when you need them.

Your home is a significant asset, and with one of our home-equity lending products you can leverage that home as a way to help you achieve your goals. By applying for either our home equity installment loan or line of credit, you can keep your long-term assets working hard for you while addressing a short-term need.

Enjoy the flexibility to use our home equity lending products for many purposes such as refinancing, consolidating debt, and paying for home improvements. Lines of Credit can also come in handy as an emergency source of funds to protect you from unanticipated expenses. And our competitive home equity lending products can be a simple solution to getting funds you need.

Choose a Home Equity Lending solution from Ameriprise Financial and find a loan suited to your needs.

For more information or to apply, call toll-free (866) 471-BANK (2265).

Benefits of an Ameriprise Home Equity Lending Solution

Which Product Is Right for You?

Home Equity Installment Loan (HEIL) Home Equity Line of Credit (HELOC)2
Product Description
The home equity installment loan is based on the equity built in your home. The borrower receives the loan in one lump sum with the security of a fixed rate.
Provides a revolving source of cash that can be used as needed. A flexible line of credit against the equity in your home that you can draw from when you need it.
Benefits
  • Rates are competitive

  • The interest payments may be tax deductible1

  • Cost of the credit can be considerably less than traditional lending vehicles

  • Receive a quick loan decision

  • Receive money all at once
  • Rates are competitive

  • The interest payments may be tax deductible1

  • Cost of the credit can be considerably less than traditional lending vehicles

  • Flexibility of interest-only payments to maximize cash flow. Pay just interest owed or as much as you want without a prepayment penalty…it’s up to you.
Rate
  • Fixed
  • Variable
Interest-only Payment Option
  • No
  • Yes
Loan Terms
  • A wide range of loan terms from 5 to 30 years are available
  • 10-year draw period with an option of 15-year repayment period
Maximum Loan
  • $500,000
  • $500,000
Funds Availability
  • Funds fully advanced at loan closing
  • Reusable credit line during draw period
Repayment Method
  • Coupon book or ACH (automated withdrawal) requiring monthly payment of principal and interest.
  • Monthly statements during draw period and repayment period.
To apply, call toll-free (866) 471-BANK (2265). To apply, call toll-free (866) 471-BANK (2265).

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