\n\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t \t\t\t\t\tDarlene Stiefel<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tAVP, Residential Loan Officer<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\n\ndarlene.stiefel@crestsavings.com<\/a>
NMLS #964972<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t Get to know Darlene<\/a>\n\t\t\t\t\t\t\t <\/div>\n\t\t\t\t\t\t \t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tAndy Weis<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tResidential Loan Officer<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\n\nandy.weis@crestsavings.com<\/a>
NMLS #2018303<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t Get to know Andy<\/a>\n\t\t\t\t\t\t\t <\/div>\n\t\t\t\t\t\t \t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tKim Campbell<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tConsumer Loan Officer<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\n\nkim.campbell@crestsavings.com<\/a>
NMLS #1295466<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t Get to know Kim<\/a>\n\t\t\t\t\t\t\t <\/div>\n\t\t\t\t\t\t \t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\n\n\n\nPurchase, Refinance or Construction Loan<\/strong><\/p>\n\n\n \n\t\t\tApply Now<\/a>\n <\/div>\n\t\t\t<\/div>\n\n\n\n\nHome Equity Loan<\/strong><\/p>\n\n\n \n\t\t\tApply Now<\/a>\n <\/div>\n\t\t\t<\/div>\n\n\n\n\nHome Equity Line of Credit<\/strong><\/p>\n\n\n \n\t\t\tApply Now<\/a>\n <\/div>\n\t\t\t<\/div>\n<\/div>\n\n\n\n\n\nHow Much Can You Afford?<\/strong><\/p>\n\n\n \n\t\t\tLoan Calculators<\/a>\n <\/div>\n\t\t\t<\/div>\n\n\n\n\nLooking for Loan Rates?<\/strong><\/p>\n\n\n \n\t\t\tView Now<\/a>\n <\/div>\n\t\t\t<\/div>\n<\/div>\n\n\n\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\n\nHave Questions?<\/h2>\n\n\n\n
Looking to buy, build or upgrade your home and not sure where to start. We can help unlock the secrets of real estate financing. <\/p>\n\n\n\n
Give us a call or Stop By one of our Mortgage Fairs<\/strong> to speak to our lending staff. We will simplify the process and make your property goals achievable! Follow us on social media for upcoming dates and times.<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\n\nWhat type of loan do you need?<\/h2>\n\n\n\n
A home mortgage and a home equity loan or line of credit are both types of secured loans that use your home as collateral. However, there are some key differences between the two.<\/p>\n\n\n\n
Home Mortgage<\/strong><\/h3>\n\n\n \n\t\t\tApply for a Mortgage<\/a>\n <\/div>\n\t\t\t\n\n\nA home mortgage is a loan that you take out to purchase or refinance a home. The loan is secured by the property, which means that the lender can take possession of your home if you default on the loan. <\/p>\n\n\n\n
There are two types of home mortgages. Most common is a Fixed Rate Mortgage<\/em><\/strong>, which means that the interest rate will not change for the life of the loan. This can make it easier to budget for your monthly payments. <\/p>\n\n\n\nThere is also the option of Adjustab<\/strong><\/i>le-Rate Mortgage<\/strong><\/em> (ARM). This is a type of home loan where the interest rate can change over time. Unlike a fixed-rate mortgage, where the interest rate stays the same for the entire loan term, an ARM has a variable interest rate that is usually tied to a specific financial index. This means that as the index fluctuates, the interest rate on the mortgage may go up or down. Typically, ARMs start with a lower initial interest rate compared to fixed-rate mortgages, but there is a risk that the rate could increase in the future, affecting monthly payments. Borrowers should carefully consider the potential changes in interest rates before choosing an adjustable-rate mortgage.<\/p>\n\n\n\nHome Construction Loan<\/strong><\/h3>\n\n\n \n\t\t\tApply for a Construction Loan<\/a>\n <\/div>\n\t\t\t\n\n\nA construction-to-permanent home loan is a type of mortgage that combines the financing for the construction of a new home and its permanent mortgage into a single loan. This type of loan is typically used by individuals who plan to build their own home rather than purchasing an existing one.<\/p>\n\n\n\n
Here’s a brief overview of how a construction-to-permanent home loan generally works:<\/p>\n\n\n\n
\n- Construction Phase:<\/strong> Construction financing and builder disbursements (draws) for work completed. Interest only payments on outstanding balance.<\/li>\n<\/ul>\n\n\n\n
\n- Transition to Permanent Mortgage:<\/strong> Loan automatically converts into a permanent mortgage once work is complete, and Certificate of Occupancy is issued.<\/li>\n<\/ul>\n\n\n\n
\n- Permanent Phase:<\/strong> The new mortgage can either be a fixed or adjustable rate mortgage with principal and interest payments.<\/li>\n<\/ul>\n\n\n\n
It’s important to note that specific terms and conditions can vary among lenders, so individuals considering a construction-to-permanent home loan should carefully review the terms offered by their chosen lender.<\/p>\n\n\n\n
Home Equity Loan or Line of Credit (HELOC)<\/strong><\/h3>\n\n\n\n\n \n\t\t\tApply for a Home Equity Loan<\/a>\n <\/div>\n\t\t\t<\/div>\n\n\n\n \n\t\t\tApply for a HELOC<\/a>\n <\/div>\n\t\t\t<\/div>\n<\/div>\n\n\n\nA home equity loan or HELOC is a loan that you take out after you have already purchased a home and have built up equity in the property. Equity is the difference between the appraised value of your home and the amount you still owe on your mortgage. A home equity loan is a lump-sum loan, which means that you will receive a fixed amount of money at closing. A HELOC is a revolving line of credit, which means that you can draw on the funds as needed up to a certain limit. HELOCs typically have variable interest rates, which means that the interest rate can fluctuate over time.<\/p>\n\n\n\n
\n\n\n\nHere is a table that summarizes the key differences between mortgages and home equity loans or HELOCs:<\/strong><\/h4>\n\n\n\n\n\n\n\tFeature <\/th> Mortgage <\/th> Home Equity Loan or Line of Credit <\/th>\n<\/tr>\n<\/thead>\n \n\n\tPurpose<\/td> Purchase a home<\/td> Finance home improvements, debt consolidation, or other expenses<\/td>\n<\/tr>\n \n\tTiming<\/td> Before you purchase a home<\/td> After you purchase the home and have built up equity<\/td>\n<\/tr>\n \n\tInterest Rate<\/td> Typically fixed but can be variable<\/td> HE Loan is fixed, LOC is variable<\/td>\n<\/tr>\n \n\tLoan Amount<\/td> Typically larger<\/td> Typically smaller<\/td>\n<\/tr>\n \n\tClosing Costs<\/td> Typically more expensive<\/td> Typically less expensive<\/td>\n<\/tr>\n \n\tRepayment<\/td> Dependent on loan type<\/td> Fixed monthly payments for loan, variable payments for line of credit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div>\n\n\n\n
\n\n\n\nHere are some additional things to keep in mind:<\/strong><\/h5>\n\n\n\n\n- Mortgages are typically only available to borrowers with good credit scores and a steady income.<\/li>\n\n\n\n
- Home equity loans and HELOCs are available to borrowers with a wider range of credit scores and incomes.<\/li>\n\n\n\n
- The interest rates on home equity loans and HELOCs are typically higher than the interest rates on mortgages.<\/li>\n\n\n\n
- Closing costs are typically lower for home equity loans and HELOCs than for mortgages.<\/li>\n<\/ul>\n\n\n\n
Which one is right for you?<\/strong><\/h5>\n\n\n\nThe best type of loan for you will depend on your individual needs and circumstances. If you are looking to purchase a home or refinance an existing home loan, then you will need a mortgage. If you are looking to finance home improvements, debt consolidation, or other expenses, then you may want to consider a home equity loan or HELOC.<\/p>\n\n\n\n
It is important to talk to one of our team members or your financial advisor to discuss your options and get the best loan for your needs.<\/p>\n\n\n\n
darlene.stiefel@crestsavings.com<\/a> andy.weis@crestsavings.com<\/a> kim.campbell@crestsavings.com<\/a> Purchase, Refinance or Construction Loan<\/strong><\/p>\n\n\n Home Equity Loan<\/strong><\/p>\n\n\n Home Equity Line of Credit<\/strong><\/p>\n\n\n How Much Can You Afford?<\/strong><\/p>\n\n\n Looking for Loan Rates?<\/strong><\/p>\n\n\n Looking to buy, build or upgrade your home and not sure where to start. We can help unlock the secrets of real estate financing. <\/p>\n\n\n\n Give us a call or Stop By one of our Mortgage Fairs<\/strong> to speak to our lending staff. We will simplify the process and make your property goals achievable! Follow us on social media for upcoming dates and times.<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\n\n\n A home mortgage and a home equity loan or line of credit are both types of secured loans that use your home as collateral. However, there are some key differences between the two.<\/p>\n\n\n\n A home mortgage is a loan that you take out to purchase or refinance a home. The loan is secured by the property, which means that the lender can take possession of your home if you default on the loan. <\/p>\n\n\n\n There are two types of home mortgages. Most common is a Fixed Rate Mortgage<\/em><\/strong>, which means that the interest rate will not change for the life of the loan. This can make it easier to budget for your monthly payments. <\/p>\n\n\n\n There is also the option of Adjustab<\/strong><\/i>le-Rate Mortgage<\/strong><\/em> (ARM). This is a type of home loan where the interest rate can change over time. Unlike a fixed-rate mortgage, where the interest rate stays the same for the entire loan term, an ARM has a variable interest rate that is usually tied to a specific financial index. This means that as the index fluctuates, the interest rate on the mortgage may go up or down. Typically, ARMs start with a lower initial interest rate compared to fixed-rate mortgages, but there is a risk that the rate could increase in the future, affecting monthly payments. Borrowers should carefully consider the potential changes in interest rates before choosing an adjustable-rate mortgage.<\/p>\n\n\n\n A construction-to-permanent home loan is a type of mortgage that combines the financing for the construction of a new home and its permanent mortgage into a single loan. This type of loan is typically used by individuals who plan to build their own home rather than purchasing an existing one.<\/p>\n\n\n\n Here’s a brief overview of how a construction-to-permanent home loan generally works:<\/p>\n\n\n\n It’s important to note that specific terms and conditions can vary among lenders, so individuals considering a construction-to-permanent home loan should carefully review the terms offered by their chosen lender.<\/p>\n\n\n\n A home equity loan or HELOC is a loan that you take out after you have already purchased a home and have built up equity in the property. Equity is the difference between the appraised value of your home and the amount you still owe on your mortgage. A home equity loan is a lump-sum loan, which means that you will receive a fixed amount of money at closing. A HELOC is a revolving line of credit, which means that you can draw on the funds as needed up to a certain limit. HELOCs typically have variable interest rates, which means that the interest rate can fluctuate over time.<\/p>\n\n\n\n The best type of loan for you will depend on your individual needs and circumstances. If you are looking to purchase a home or refinance an existing home loan, then you will need a mortgage. If you are looking to finance home improvements, debt consolidation, or other expenses, then you may want to consider a home equity loan or HELOC.<\/p>\n\n\n\n It is important to talk to one of our team members or your financial advisor to discuss your options and get the best loan for your needs.<\/p>\n\n\n\n
NMLS #964972<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t \t\t\t\t\tAndy Weis<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Residential Loan Officer<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
NMLS #2018303<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t \t\t\t\t\tKim Campbell<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Consumer Loan Officer<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
NMLS #1295466<\/p>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t Have Questions?<\/h2>\n\n\n\n
What type of loan do you need?<\/h2>\n\n\n\n
Home Mortgage<\/strong><\/h3>\n\n\n
Home Construction Loan<\/strong><\/h3>\n\n\n
\n
\n
\n
Home Equity Loan or Line of Credit (HELOC)<\/strong><\/h3>\n\n\n\n
\n\n\n\nHere is a table that summarizes the key differences between mortgages and home equity loans or HELOCs:<\/strong><\/h4>\n\n\n
\n\n
\n\t \nFeature <\/th> Mortgage <\/th> Home Equity Loan or Line of Credit <\/th>\n<\/tr>\n<\/thead>\n \n\t Purpose<\/td> Purchase a home<\/td> Finance home improvements, debt consolidation, or other expenses<\/td>\n<\/tr>\n \n\t Timing<\/td> Before you purchase a home<\/td> After you purchase the home and have built up equity<\/td>\n<\/tr>\n \n\t Interest Rate<\/td> Typically fixed but can be variable<\/td> HE Loan is fixed, LOC is variable<\/td>\n<\/tr>\n \n\t Loan Amount<\/td> Typically larger<\/td> Typically smaller<\/td>\n<\/tr>\n \n\t Closing Costs<\/td> Typically more expensive<\/td> Typically less expensive<\/td>\n<\/tr>\n \n\t Repayment<\/td> Dependent on loan type<\/td> Fixed monthly payments for loan, variable payments for line of credit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div>\n\n\n\n
\n\n\n\nHere are some additional things to keep in mind:<\/strong><\/h5>\n\n\n\n
\n
Which one is right for you?<\/strong><\/h5>\n\n\n\n