Equity Loans Made Simple
You’ve put a lot of hard work and dedication into being a homeowner, so put the equity you’ve built to good use! A Bank Michigan home equity loan is a smart way to get the cash you need for home improvements, starting a business, or consolidating your debt. With a home equity loan, you can forgo the high interest rates of credit cards and personal loans while also realizing the tax advantages of using your home equity as purchasing power.*
Types of Equity Loans
- Fixed Term – A great option for one-time expenses, with a fixed term equity loan you receive a lump sum payment that you borrow against your equity. These loans feature a fixed interest rate and set repayment schedule, so you'll have predictable monthly payments that can be tailored to fit your budget.
- HELOC (Home Equity Line of Credit) – For homeowners with ongoing expenses, HELOC loans offer the ease and flexibility of borrowing the amount you need, when you need it. Access money with a MasterCard debit card after being accepted for a line of credit based on the equity of your home.
Why Work with Bank Michigan for your Home Equity Loan
- Local appraisers – Specialists in Michigan real estate will ensure that you receive an accurate appraisal.
- Local title companies: Confirm your home’s ownership in a timely manner so you can get approval when you need it.
- Quick turnaround time – Our staff will assist you in the processing of your application so you can get access to the funds you need, fast.
- Dedicated Banking Professionals – Our team will always be available to help you with any questions or issues that may arise during the duration of your home equity loan.
How to Get Started on Your Home Equity Loan
Interested in applying for a fixed-term or HELOC home equity loan? To ensure that your application and approval process will take place in a timely and stress-free manner, please bring the following documents:
- Completed home equity loan application
- Two most recent consecutive paystubs for all applicants covering the last 30 days
- Two prior years of W2 forms
- Two prior years of full tax returns with schedules (only if self-employed)
- Social Security or Pension Award Letter (if applicable)
Connect with our equity loan specialist to learn about our lending options.
Kacie Eberenz, Branch Manager/Mortgage Lender - #1458409
Are you ready to get started? Download our application or contact us to set up a time to meet with Kacie personally.
*Consult your tax advisor on the possible benefits of using your home equity as purchasing power.