Use the equity in your home for a variety of purchases: cars, boats, recreational vehicles, home furnishings, lawn and garden, bill consolidation and more! Maybe start your own business! This loan solution is secured by the equity in your home. You'll enjoy low interest rates and a low minimum loan amount. A Fixed Rate Home Equity solution offers low fixed interest rates and consistent monthly payments. Monroe Bank & Trust's Home Equity Adjustable Rate Mortgage (ARM) is an affordable financing option offering low minimum monthly payments with an interest rate that is fixed for an initial term and thereafter fluctuates throughout the remaining term based on market rates. The maximum amortization of 240 months.
Type |
Loan to Value |
Term |
Best Rate |
APR |
6/1 ARM Home Equity Loan |
80% LTV |
Up to 240 Month Note |
5.25% |
5.70% |
10/1 ARM Home Equity Loan |
80% LTV |
Up to 240 Month Note |
6.00% |
6.10% |
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Note: Higher loan to value options are available. You could borrow up to 85% of the equity in your home!
Contact a lender for further details.