Home Equity Loans

When you want to finance big expenses, your Ohio, Michigan or Indiana home could be the financial foundation. First Federal Bank Home Equity Loans and Lines of Credit allow you to access the equity in your home for major projects or purchases.

Our smart home equity options can be used for home renovations, debt consolidation, college tuition, a vacation or anything else you want to finance with a lower rate.

Home Equity Loans

A home equity loan borrows against your home’s equity and is delivered to you in one lump sum. Our smart home equity options can be used for home renovations, debt consolidation, college tuition, a vacation or anything else you want to finance with a lower rate. Explore our low home equity loan rates.

Home Equity Lines of Credit (HELOC)

A HELOC also borrows against your home’s equity but works allows you to write a check in the amount to borrowed money as you need it. Some advantages of a HELOC are:

  • Multiple terms available at variable HELOC rates
  • Access your equity by writing a check
  • Borrow only the amount of money you need, when you need it
  • As you repay the money, it becomes available for you to re-borrow

Cash-out Refinance Loan

A Cash-out Refinance Loan is another option that uses your homes equity. A Cash-out Refinance Loan replaces your existing first mortgage with a new mortgage for more than you owe on your home. You receive the difference in cash and you can use it to pay off other debts (including your current HELOC), home improvements and more. Learn more about Cash-Out Refinances vs HELOCs with our helpful tips.  

To get pre-approved, pre-qualified or apply for a home equity loan or line of credit, contact a local mortgage rep in OH, MI or IN to set up an appointment.