Visa Home Equity
Visa Home Equity Cards-put the equity of your home in a credit card.
Westmark offers two ideal options for financing home improvements, your child's education, or other large expenditures. If you want a fixed rate loan, check out our Second Mortgage Loan option. If you are more interested in convenience and don't mind a variable rate, check out our VISA Home Equity Line.
This product offers:
- No origination Fee
- No Processing Fee
- No Annual Fees
- No Draw Fees
- **Appraisal, Title Insurance, and other third party fees may be paid on your behalf.
- Access to your credit line using your VISA Home Equity Card, Home Equity Checks, Call24, or Online Banking.
- Minimum credit line is $5,000.
- Annual Percentage Rate (APR) is variable.
This loan is secured by a Deed of Trust and you may qualify for up to* 85% of your home evaluation, less your first mortgage.
Your Annual Percentage Rate (APR) will vary based on the U.S. Prime rate with a minimum APR of 4.0% and a maximum APR of 14.0%. You have draw privileges for seven years from the origination date, with an option for renewal. Your low minimum payment is only 1.5% of the outstanding balance or $100, whichever is greater.
For more information or to apply for a Home Equity Loan, just contact a Loan Officer at any branch or you can Apply Now.
*The actual loan amount and Loan-To-Value you qualify for may vary based on your credit and the amount of your first mortgage. All loans OAC.
**For loan amounts from $5,000 to $75,000, Westmark will pay for the appraisal fee, title insurance, and other third party fees associated with your loan, subject to your reimbursement to Westmark of these fees if you pay off your loan early (within 36 months). Third party fees on home equity loans exceeding $75,000 must be paid by the member. Contact a loan officer for more details.
Second Mortgages
Second Mortgages-Need to finance something big? Your home can help.
Westmark offers two ideal options for financing home improvements, your child's education, or other large expenditures. If you want a fixed rate loan, check out our Second Mortgage Loan option. If you are more interested in convenience and don't mind a variable rate, check out our VISA Home Equity Line.
This loan is secured by a Deed of Trust and you may qualify for up to 85% of your home evaluation, less your first mortgage.
This product offers:
- A Fixed Annual Percentage Rate (APR).**
- Terms from 60 to 180 months.*
- Westmark does NOT charge any origination, processing, or other fees! In most cases, the cost of the appraisal, title insurance, and other third party fees will be paid on your behalf by Westmark.***
For more information or to apply for a Second Mortgage Loan, just contact a Loan Officer at any branch.
*The actual loan amount and Loan-To-Value you qualify for may vary based on your credit and the amount of your first mortgage. All loans OAC.
**Maximum loan term available is based upon the amount you borrow. Contact a loan officer for more details.
***For loan amounts from $5,000 to $75,000, Westmark will pay for the appraisal fee, title insurance, and other third party fees associated with your loan, subject to your reimbursement to Westmark of these fees if you pay off your loan early (within 36 months). Third party fees on second mortgages exceeding $75,000 must be paid by the member. Contact a loan officer for more details.
