Bronco's Routing #: 251480592
Sometimes known as second mortgages, home equity loans provide a fixed-rate, lump-sum loan with a set payment schedule over an established term. A term, by the way, is the length of time you agree to repay the loan. And what is equity? It's the amount of your home's appraised value that you own once all outstanding mortgage balances are subtracted. If you've been making your mortgage payments for a while, you may have built up equity in your home.
That said, if you do have equity, this type of loan is an excellent means to borrow, allowing you to finance home improvement projects or consolidate higher interest rate loans or credit cards.
A Bronco Home Equity Loan offers you:
* Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval. Must maintain adequate insurance. Up to $300 plus recording fees would be paid by Bronco towards closing costs with an advance of $10,000 new money and use of a Bronco Preferred Attorney. Appraisal Fee may be required to be paid by borrower. Closing costs to be repaid by borrower if loan is paid off within 36 months. Membership eligibility required.