Home Equity Loan
A Mechanics Bank Home Equity Loan has a fixed repayment term and fixed interest rate. The advantage to the loan is that you receive your loan amount in one lump sum and you know exactly how much your monthly payment is and the exact length of the repayment term. In most instances, homeowners select a Home Equity Loan to meet a specific borrowing need such as home remodeling or to purchase an auto.
You may qualify for a Home Equity Loan in the amount of $10,000- $500,000 with your lendable equity at 80% of your home's appraised value minus your mortgage balance.
For additional information or assistance with our Home Equity Loans, please visit one of our locations or call us at 800-797-6324.
We view extending credit, whether it is a credit card, a new home loan or a home equity line of credit as an important responsibility of a community bank. We are proud that for nearly a century we have been helping individuals, families and businesses accomplish their financial goals. Relationship banking is an advantage for you and for us.