Enjoy competitive rates from your community bank.
Unlocking
the value of your home equity.
Choose what’s right for you: a Home Equity Loan or Line of Credit.
With a Home Equity Fixed Rate Loan, you can borrow a lump sum to cover your expenses. A Home Equity Line of Credit gives you the flexibility to borrow what you need when you need it. This can be useful if youâre not sure how much a project will cost. Whichever you choose, First Hope Bank provides personal service, competitive rates, flexible borrowing options, and an easy online application.
You’ve worked hard to build equity. You can use it to:
- Make renovations
- Consolidate higher-interest debt
- Cover education expenses
- Pay for an unexpected expense
Home Equity Loan
6.49%APR1
5-Year Fixed Monthly Rate
The actual payment may be greater because taxes and insurance are not included. Subject to approval.
Home Equity Line of Credit
6.74%APR2
12-Month Fixed Introductory Rate
8.25%APR2
Variable Rate Thereafter
We’re here with the keys to your castle.
Whether you want to achieve a goal or cover an unexpected expense, First Hope Bank can help with a Home Equity Loan or Line of Credit.
Choose First Hope Bank for your Home Equity Loan or Line of Credit
We make our lending decisions locally and offer personal service every step of the wayâjust as youâd expect from your neighborhood, family-owned bank.
Our Mission
To help our customers turn their hopes into reality and be an active contributor to our communityâs success.
First Hope has grown and flourished under the guidance of four generations of family leadership, and continues to thrive through technological advancements and services in order to stay ahead of the evolving financial industry. We offer a comprehensive suite of financial management tools for everyone including both consumer and commercial services as well as a well-rounded Wealth Management division. We are proud of our history and community commitment, and are focused on expanding the history of the bank for the next hundred years.
1Annual Percentage Rate/Rate is accurate as of July 27, 2024 and is subject to change without notice. New money only. 16 months of assets to be provided for first liens and 9 months of assets to be provided for second liens. Max loan to value (LTV) on 5 year terms is 80% of appraised value less first mortgage balance if applicable. Monthly payment per $1000 borrowed is $19.56. Payments do not include taxes and insurance premiums. Terms and Conditions are subject to change without notice. Property insurance required. Flood Insurance may be required. Loans on 1 to 4 family owner occupied residence. Max loan amount is $500,000 for first liens and $350,000 for second liens. Your actual rate, payment, and costs could be higher. Loans $500,000 and above require Title Insurance for the amount of the loan at the customerâs expense. Regulation requires a full appraisal on loan amounts over $400,000 which will be at the customerâs expense. There is a $60 non-refundable application fee due upon your acceptance of the Loan Estimate. There is a recording fee which varies from state to state and county to county. Inquire to find out the amount of applicable recording fees for NJ and PA properties. Higher fees may apply for PA Residents. Subject to approval.
2Annual Percentage Rates/Rates are accurate as of July 27, 2024 and are subject to change without notice. New Money Only. Minimum loan amount is $10,000. 6 months of assets to be provided for first liens and 9 months of assets to be provided for second liens. Introductory 5.74% Annual Percentage Rate (APR) is fixed for 12 months and variable thereafter. Max loan to value (LTV) is 70% of appraised value less first mortgage balance, if applicable. Variable APR is equal to Wall Street Journal Prime (currently 8.50%) less a margin of 25 basis points, with a minimum APR of 3.99% and a maximum APR of 16.00%. Annual Percentage Rates/Rates subject to change without notice. 10 year interest only draw period with 20 year payback. Terms and Conditions are subject to change without notice. Property insurance required. Flood Insurance may be required. Loans on 1 to 4 family owner occupied residence. Max loan amount is $500,000 for first liens and $350,000 for second liens. Your actual rate, payment, and costs could be higher. Loans $500,000 and above require Title Insurance for the amount of the loan at the customerâs expense. Regulation requires a full appraisal on loan amounts over $400,000 which will be at the customerâs expense. There is a $60 non-refundable due at the time of application. There is a recording fee which varies from state to state and county to county. Inquire to find out the amount of applicable recording fees for NJ and PA properties. Higher fees may apply for PA Residents. You may re-borrow the money at any time during the 10-year âdraw periodâ, during which time monthly payments are Interest Only. After the 10-year âdraw periodâ, the loan converts to a 20 year payment. The total length of the plan is 30 years. The minimum advance is $250.00. If the loan is paid off and closed prior to 30 months of the term, It will be subject to a 1% early termination fee of the original approved amount unless refinanced into a First Hope Bank home equity fixed loan or mortgage. Subject to approval.