Home Equity
Cash-Back Refinance Home Equity Loan
Refinancing an existing mortgage or home-equity loan - taking out cash at the time of closing.
- Fixed rates
- 10, 15, 20 and 30 year terms
- Escrow accounts
First Line Home Equity Loan
Borrowing against a home that you own outright or refinancing your existing mortgage.
- Fixed, credit-based rates
- 1 to 5-year terms
- Low closing costs
Second Line Home Equity Loan
Obtaining a second line on your home for the home's equity - this means you have two monthly payments, one for your mortgage and one for the second lien.
- Fixed, credit-based rates
- 1 to 15-year terms
- Low closing costs
Home Equity Lines of Credit (HELOC)
Securing a revolving line of credit (similar to a credit card), which you can borrow from and repay repeatedly (your homestead serves as collateral)
- Adjustable, credit-based rates based on Prime (JP Morgan Chase Prime rate) plus a margin, depending on your credit score
- Low closing costs
- Under state law, the maximum line of credit cannot exceed more than 50% of the value of the home and all liens together cannot exceed 80% of home's value
Home Improvement Loans
Borrowing money exclusively to improve your property
- Fixed, credit-based rates
- 1 to 15-year terms
- Loan amount must be equal or less than improvement bids
Rental Equity Loan
Borrowing against a rental property that you own outright - must not be your primary home, and must have no liens on the property
- Fixed, credit-based rates
- 1 to 5-year terms
- Low closing costs
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
Amalgamated International Bank complies with section 326 of the USA PATRIOT Act. Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account such as name, address, date of birth and taxpayer identification. We may ask to see your driver’s license or other identifying documents.
