Do you need money for home improvements or debt consolidation? Maybe you need cash to buy that new sofa you've had your eye on for a while. You might even want money to take that dream vacation to Cancun. If this describes you, consider applying for a home equity loan with our company. You can even apply for home equity lines of credit.
When you receive home equity credit financing, you use your home's equity as collateral for a loan. No matter what type of home equity loan or home equity credit lines you're looking for, we can take care of you. Apply today and you can get cash from your home's equity for any type of financial need. Just look at what you can do with a home equity loan.
- Consolidate your debt
- Make improvements and repairs to your home
- Buy another car so you can get rid of your old clunker
- Pay for education expenses
- Pay unexpected bills - the ones that creep up on you while you're not looking
- Pay medical bills
- Purchase new furniture
Home Equity Loans & Lines of Credit
Flexible Home Equity Line of Credit (HELOC) with a Fixed-Rate Option
Get rates as low as 4.50% APR*
Put the equity in your home to work with a Flexible Home Equity Line of Credit (HELOC) featuring a fixed-rate lock on a portion or all of your balance when you need it — all in one loan.
Even if you don’t need a fixed-rate portion right away, you can choose to use it later when you want to buy a car, pay tuition and even go on a vacation. And you don’t need to reapply — just call a Red Rocks Service Officer, and we’ll advance you your fixed-rate portion quickly and easily.
Home Equity Loan (2nd Fixed-Rate Mortgage)
Get rates as low as 4.99% APR**
Take a one-time draw on the equity you have in your home for your large expenses. You can borrow up to 89.9% of your home’s value upon qualification, and the interest you pay may be tax deductible (please consult your tax advisor for details).
Home Equity Loan (30-Due-in-7 2nd Fixed-Rate Mortgage)
Get rates as low as 5.49% APR**
This product provides a lower payment option, while maintaining the benefits of a fixed rate. Payments are fully amortized over 30 years, with a balloon payment due after 7 years that can be paid in full or refinanced subject to credit approval.
*Annual Percentage Rate (APR) for the HELOC product is accurate as of publication date and is subject to change. Published rates are based on approved credit and combined loan-to-value and adjust monthly based on the highest Prime Rate as published in the Money Rates Section of the Wall Street Journal in effect on the 25th of each month of each year. To determine the APR that will apply to your line of credit, we add a margin to the value of the index.
** Annual Percentage Rate (APR) for Fixed-Rate products are accurate as of publication date and are subject to change. Published rates are based on approved credit and combined loan-to-value of your home. A combined loan-to-value below 75% is eligible to receive the 4.99% rate.
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