Home Equity

Home Equity

Considering home improvements, consolidating debt, or financing a major purchase? Our Home Equity Blend offers the flexibility of a revolving line of credit, allowing you to borrow as needed against the equity in your home. With potential tax-deductible interest (consult your tax advisor), it’s a smart way to manage your finances and make your plans a reality.

Why Choose Our Home Equity Blend?

• Fixed Rate for the First 5 Years: Enjoy a stable 7.00% APR* for the first 60 months, then transition to a variable rate based on the Prime Rate.
• Access Up to 90% of Your Home’s Value: Unlock substantial funds for your projects or needs.
• Easy Application Process: Simple steps to get started and access your funds quickly.
• No Annual Fee: Keep costs low with no annual maintenance fees.
• Local Servicing: All loans are managed locally and never sold to a secondary market, ensuring personal, reliable service.

Flexible Use for Your Needs

Utilize your home’s equity for anything from renovations and debt consolidation to vacations and other major expenses. With easy access and flexible terms, you can tailor the loan to fit your specific goals.

Get Started Today

Connect with one of our local Home Equity experts to see if you qualify for a Home Equity Blend at Aroostook Savings & Loan—Your Home Bank. Let us help you unlock the possibilities!

*Annual Percentage Rate (APR) is subject to change without notice and is accurate as of December 19, 2024. Home Equity Blend rates are fixed for the first 60 months and then converts to a variable rate that can change monthly. The variable rate is tied to the Prime Rate published in The Wall Street Journal, plus a margin of 0% to the value of the Index. The maximum annual percentage rate that may be imposed is 18%, the minimum will never be less than 2.5% per annum. First mortgage with Aroostook Savings and Loan is required to obtain the APR Relationship Rate. If determined to be required, valuation of property and/or title insurance may be obtained. Costs may range from $300 to $1,000. Maximum loan to value is 90 percent of appraised value, including any other existing liens. Ten-year advance period followed by a 10-year principal and interest repayment. Minimum credit advance is $500. Available for owner-occupied 1 to 4 family residential properties financed with Aroostook Savings and Loan. A property insurance policy is required and must be approved by the Bank prior to closing. All loans are subject to credit approval by Aroostook Saving and Loan.