Home Equity Loans & Lines Of Credit
Unlock the power of your home's equity with Home Equity Loans and Lines of Credit.
Everything and the kitchen sink
Common sense says to use the tools that you already own such as the equity in your home. With a home equity loan or line of credit (HELOC) from Community Banks of Colorado, you have the power to cover large expenses like home improvements, funding education or paying medical bills in an affordable way. With so many ways to use the equity in your home, you can get everything you need.
Home Equity Term Loan
A loan secured by the equity on your home or property. You’ll receive the lump-sum proceeds when your loan is closed. You can use the proceeds of the loan to pay for college expenses, home improvements or to refinance.
Home Equity Term Loans are not available in Texas.
Home Equity Line of Credit
A reusable line of credit secured by the equity on your home or property. With a line of credit you have access to your funds when you need them, like a credit card, but with lower interest rates. The perfect solution for home improvements, paying medical bills or even paying off high-interest credit card debt.
Home Equity Lines of Credit are not available in Texas.
Ready To Apply for a Home Equity Loan?
Fill out this form to have a banker give you a call about applying for a Home Equity Loan or Line of Credit.
Compare Home Equity Loans and Home Equity Lines of Credit
| Home Equity Line of Credit | Home Equity Term Loan | |
|---|---|---|
| No closing costs1 | Community Banks of Colorado will pay up to $500 in closing costs, applicable on HELOCs up to $250,000. | Community Banks of Colorado will pay up to $500 in closing costs. |
| Annual fee | Yes (waived if automatic payment initiated from a Community Banks of Colorado account) | |
| Maximum loan-to-value | 80%2,3 | 75%2,4 |
| Funds accessibility | Online banking By phone At a banking center Checks we provide | Lump sum at closing |
| Application process | Apply at banking center | Apply at banking center |
1No third party closing costs up to $500 on loans up to $200,000. 2Maximum Loan-To-Value is subject to credit score and overall collateral approval. Please contact your banker or nearest banking center for more details. 3Maximum Loan-To-Value for loans $10,000 to $75,000 is 80%. Maximum Loan-To-Value for loans $75,001 to $250,000 is 75%.Maximum Loan-To-Value for loans $150,001 to $250,000 is 70%. 4Maximum Loan-To-Value for loans $15,000 to $75,000 is 85%. Maximum Loan-To-Value for loans $75,001 to $150,000 is 80%. Maximum Loan-To-Value for loans $150,001 to $250,000 is 75%. Please contact your banker or nearest banking center for more details.
