Life can get expensive and money shouldn’t slow you down. A Home Equity Loan provides you with the funds you needs to consolidate debt, purchase a new vehicle, continue your education, make home improvements, or pay for other large expenses.
Home Equity Loans are more commonly known as a ‘Second Mortgage.’ A Home Equity Loan uses the equity of your home to give you a large lump sum that can be paid back with fixed monthly payments over a certain period of time.
Features & Benefits of a Home Equity Loan
- Finance Up To 85% Appraised Value of Purchase Price
- In-House Financing
- Loans processed, underwritten, and serviced locally
Home Equity Loan Requirements
- Minimum Credit Score of 700
- Max Debt To Income of 40%
- Other Normal Closing Costs Apply
Access An Existing Mortgage Account
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A great home buying experience starts with great home buying partners. Meet your American Bank & Trust mortgage team and discover an outstanding group that truly lives at the intersection of what if and why not? With AB&T home loan experts, you’ve got neighbors you can always count on.
Looking for more information about Home Loans? Visit the South Dakota Housing Development Authority.
Loan rates and terms may vary. All loans subject to credit approval. Contact a banker for further details.