Lending Options for Flexibility and Home Improvements
First Savings Bank of Hegewisch is your trusted lending partner. Whether it's time to make improvements to your home or you want to use your home's built-up equity to provide some financial flexibility, our lenders are ready to work with you. Contact our offices to speak with our lenders about your home improvement and home equity loan options.
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Home Equity Loan vs. Home Improvement Loan - Which is Right for You?
Here are some key things to keep in mind when choosing between a home equity loan or home improvement loan at FSBH.
- Home Equity Loans are ideal for larger projects or to use the equity in your house for other purposes.
- Home Improvement Loans are limited to home improvement projects.
| Home Equity Loan | Home Improvement Loan | |
|---|---|---|
Best For | Large, long-term projects or debt consolidation. | Smaller, short-term home improvement projects |
Type of Loan | Secured (uses your home as collateral) | Secured (uses your home as collateral. |
Loan Amount | Borrower up to $200,000 | Borrow up to $50,000 |
Interest Rates | Fixed rates | Fixed rates |
Use of Funds | Can be used for most purposes, including large home renovations | Specifically for home improvement projects |
NMLS #629759
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