Because of the pandemic, the opportunity for consumers to borrow against their home’s equity is not as widespread as it once was. Not knowing what the next week, or even month, will bring, several banks and lenders have put a halt to applications for home equity lines of credit or have changed their qualifications.
That’s not the case at Malvern Bank, which is now offering a special rate on Home Equity Lines of Credit. So, now may be the time for homeowners to cash in on their home’s equity.
If you’re a homeowner looking to access cash – whether it’s for emergency funding or financing a home-improvement project – Malvern Bank, National Association can help with a Home Equity Line of Credit.
A Home Equity Line of Credit (HELOC) is a type of loan that provides a revolving line of credit secured by the borrower’s home. The lender determines credit line availability after a review of the borrower’s qualifications and collateral value. Monthly payment amounts are calculated based upon the loan’s outstanding balance. Since borrowers use their home as collateral, HELOCs typically have lower interest rates than personal loans.
Many Americans have worked hard to own a home. If this is your situation, now may be the time to let your home work hard for you. A HELOC serves as a ready source of funds for many types of planning and unexpected expenses. You can use a HELOC to pay for home renovations, tuition, consolidate higher interest rate debt, or finance just about anything else that’s on your priority list.
3.25 Percent Variable APR HELOC Special
Malvern Bank specializes in HELOCs, offering competitive interest rates, quick quotes, low fees, and an easy online application process. For a limited time only, Malvern Bank is offering a 3.25 percent Variable APR Home Equity Line of Credit.
“Borrow only the amount you need, when you need it,” said Anthony C. Weagley, President and CEO of Malvern Bank. “The unused balance of your credit line remains available for use. As you repay your outstanding balance, your available credit replenishes, which means you can borrow, repay, and re-borrow on your Home Equity Line of Credit throughout the draw period.”
Malvern Bank is dedicated to fulfilling the financial needs of the people and businesses in the communities it serves. The bank offers a complete range of products and services through its network of convenient financial centers – and Malvern prides itself on delivering a high-level customer experience.
To find out if a Malvern Bank Home Equity Line of Credit could be a good idea for helping you fund improvements that increase the value of your home – or could be a source of lower interest cash compared to other sources in a true financial emergency – contact Mortgages@MyMalvernBank.com or call 610-251-2221.
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