All lending products are subject to application and credit approval. Home equity loans and lines also subject to acceptable appraisal and title search.
Equity in your home.
A home equity loan uses the equity in your home as collateral to guarantee the loan. This reduces risk to the bank on this loan allowing you to enjoy a lower interest rate compared to an unsecured loan.
Fixed interest rate.
The rate on a Midland home equity loan is fixed for the life of the loan. So, your payment is consistent to allow for better budgeting for you.
Lump sum loan.
A home equity loan is paid to you in one lump sum and generally used for a single purpose, such as paying for a vehicle, a large home improvement, or the consolidation of debt. If you need the flexibility of continuous access to your equity for various needs, you may want to consider a home equity line of credit.