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Home is where the cash is at. Tap into yours.

Convert your home equity into cash and use it to finance important needs and major expenses.

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Typical Uses of Home Equity Financing

You can use home equity loans to fund major expenses from home renovations to college education, medical treatments or real estate investment. Put your home equity to work for you. Here are some common uses:

iconHome Renovations

Need to pay for major renovations? Use your house as collateral to finance your home improvement project.

iconFinancial Safety Net

Home equity financing can provide that financial safety net you can fall back on whenever you need financial help.

iconStudent Loans

You could potentially use home equity financing to pay for your child’s college education. It’s may be less expensive as well as tax deductible.

 

Questions about rates or what type of home equity financing may be right for you?

 

We have Answers

Home Equity Financing Frequently Asked Questions

  • Can I get checks for my home equity line of credit? How?

    Can I get checks for my home equity line of credit? How?


    Yes, you may contact the MutualBank Customer Support line (800-382-8031) or your local financial center to order checks on your behalf.

  • How many years will I have access to draw from my home equity line of credit?

    How many years will I have access to draw from my home equity line of credit?


    In most cases, you'll have 10 years access to draw from your line of credit.

  • How do I make payments on my home equity loan or line?

    How do I make payments on my home equity loan or line?


    If you have a MutualBank checking or savings account in addition to a home equity loan / line of credit you have with us, you can make payments in online banking via transferring funds between accounts.

    If you do not have a MutualBank checking or savings account, you can:

    • Set up payment through your bank of choice via their bill payment system
    • Use our Same Day Pay online service to send an urgent payment ($4 per payment)
    • Contact our Customer Support or visit any Financial Center location and we can help set up a transfer from your bank account to pay your payments.
  • What’s the difference between a home equity loan and home equity line of credit?

    What’s the difference between a home equity loan and home equity line of credit?


    Both loan types use the borrower’s residence as collateral. Home Equity Loans are term loans with a fixed monthly payment for a fixed term. Home Equity Lines of Credit are revolving (sort of like a credit card), meaning you only pay for your line of credit when you use it.
open
Can I get checks for my home equity line of credit? How?
x
Can I get checks for my home equity line of credit? How?

Yes, you may contact the MutualBank Customer Support line (800-382-8031) or your local financial center to order checks on your behalf.

open
How many years will I have access to draw from my home equity line of credit?
x
How many years will I have access to draw from my home equity line of credit?

In most cases, you'll have 10 years access to draw from your line of credit.

open
How do I make payments on my home equity loan or line?
x
How do I make payments on my home equity loan or line?

If you have a MutualBank checking or savings account in addition to a home equity loan / line of credit you have with us, you can make payments in online banking via transferring funds between accounts.

If you do not have a MutualBank checking or savings account, you can:

  • Set up payment through your bank of choice via their bill payment system
  • Use our Same Day Pay online service to send an urgent payment ($4 per payment)
  • Contact our Customer Support or visit any Financial Center location and we can help set up a transfer from your bank account to pay your payments.
open
What’s the difference between a home equity loan and home equity line of credit?
x
What’s the difference between a home equity loan and home equity line of credit?
Both loan types use the borrower’s residence as collateral. Home Equity Loans are term loans with a fixed monthly payment for a fixed term. Home Equity Lines of Credit are revolving (sort of like a credit card), meaning you only pay for your line of credit when you use it.

 

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ALL FINANCING SUBJECT TO CREDIT APPROVAL
MutualBank provides mortgage and consumer loans for almost any purpose. MutualBank serves customers in its market area only, and reserves the right to deny any account application on that basis. You have the right to file a written loan application and to receive a copy of the association's underwriting standards. Rates are subject to change without notice.

1An annual maintenance fee of $35 will be assessed if the average daily balance of the line is less than $1,000 for the preceding twelve months. Property insurance is required.