Home Equity Loans

Home Equity Loans

You love living in your house, but did you know it’s good for more than just that? You can use the equity you have built up in your home for just about any purpose, from financing your child’s education to taking that dream vacation. For ongoing needs, we also offer a Home Equity Line of Credit (HELOC).

2.25% APR Special Introductory Rate!*

What can your Home Equity do for you?

When you have financing needs for an ongoing project or event, a Home Equity Line of Credit (HELOC) is an affordable and hassle-free way to get funding. Take advantage of our low introductory rate today and put your home equity to work!

Competitive rates for several ongoing or seasonal needs:

  • Debt Consolidation
  • Home Improvement Projects
  • Major Life Events
  • Emergency Reserve
  • Business Expenses
  • And more

Features and Benefits

  • Accommodating repayment terms that work uniquely for you
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • Funds easily available by mail or via in-person, online, or phone transfers to a specified F&M checking account
  • The interest paid might be tax deductible*
  • The existing equity in your home is used as collateral backing
  • Set up automatic payments to be deducted from your account monthly
  • Local decision-making and processing
  • Attentive, friendly service from start to finish
  • Disclaimers
  •  *APR – Annual Percentage Rate. Subject to credit approval. This special offer has an Introductory APR for the first 6 months. Following the 6-month introductory period, the APR becomes variable, and is subject to change based on the New York Prime Rate plus a margin. Offer not valid for refinancing existing F&M loans. The margin may vary and is determined by loan-to-value (LTV), credit score (at time of application), debt-to-income (DTI), property type, loan amount, and payment method. As of March 29, 2021, the variable APR on a Home Equity Line of Credit for $50,000 with an LTV of 80%, credit score of 740, and DTI of 36%, for a detached single family primary residence, with an automatic payment from an F&M checking account, and a 0.00% margin was 3.25%. The minimum lifetime APR is 2.25% and the maximum lifetime APR is 18%. Offer available on new home equity lines of $5,000 or more for a 10-year term. In order to receive the offered rate, a minimum draw of $5,000 is required at funding. Property insurance required. Limited time offer. Apply by and offer expires May 29, 2021. 

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