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Home Equity Loans
Home equity loans provide a flexible way to finance major expenses like home improvements, debt consolidations, or special milestones. At SouthEast Bank, we offer competitive rates and personalized service to help you make the most of your home’s value.
What can you use a home equity loan for?
A home equity loan allows you to borrow a lump sum based on the equity you’ve built in your home. This type of loan comes with fixed interest rates and predictable monthly payments. A great solution for funding one or more of your needs:
Home Improvements
Invest in your home’s value by tackling renovations, remodeling, or repairs.
Debt Consolidation
Simplify your finances by consolidating multiple debts into one manageable payment.
Weddings and Celebrations
Cover the costs of major life events like weddings, graduations, or other family celebrations.
Unexpected Bills
Mange unforeseen expenses, like medical bills or emergency repairs, without dipping into your savings.
Why Choose SouthEast Bank?
Choosing SouthEast Bank means you can rest easy with a team that will support you every step of the way. From competitive rates to service you can count on, our team of experts is here for you.
- Flexible Loan Options: Skip a one-size-fits-all lender, and tailor your loan terms to fit your needs and goals.
- Competitive Rates: We offer competitive interest rates that can save you money on your home equity loan.
- One-to-One Service: Our loan officers hold deep Tennessee roots, local market expertise, and a commitment to customer satisfaction.
- Community Investment: When you choose SouthEast Bank, you support a financial institution that gives back to the local causes you care about.
Frequently Asked Questions:
Home equity refers to the portion of your home’s value you own outright. It is calculated by subtracting the remaining balance on your mortgage from the current market value of your home.
SouthEast Bank offers home equity loans for primary residences, including single-family homes, located in Tennessee. Properties outside of Tennessee do not qualify at this time. If you have questions or concerns about your property’s qualifications, contact us by phone or in branch and we’ll be happy to assist you!
While processing times may vary, SouthEast Bank strives to complete the loan application process within a few weeks, depending on the documentation required and property appraisal.
SouthEast Bank does not charge an application fee for home equity loans. However, other fees such as closing costs or appraisal fees may apply.
SouthEast Bank typically offers home equity loans with a maximum loan-to-value (LTV) ratio of 80%. In other words, you can borrow up to 80% of your home’s current market value minus any outstanding mortgage balance.
SouthEast Bank offers home equity loans with fixed interest rates, allowing you to have predictable monthly payments through the term of your loan.
Yes, SouthEast Bank allows customers to make additional loan payments on their home equity loan at any time without incurring penalties.
Choose a Local Lender Who’s Good to Know.
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Mortgage Loans
Whether you’re buying your first home, an investment property, or looking to refinance, SouthEast Bank has the experience and personal service to support you through this next step.
Mortgage Calculators
Utilize our many mortgage calculators to make your home financing decisions easier.
- Mortgage Calculator
- Mortgage Refinancing Calculator
- Home Financing
- Loan Consolidation
Mortgage Refinance
Refinancing your mortgage loan can be beneficial for many reasons, including:
- Take advantage of lower interest rates
- Reduce your monthly payment with terms suited for you
- Consolidate high-interest-rate debt
- Save cash by paying off interest sooner
In-Branch and Online, We’re Good to Know
Open an Account
Open a checking, savings, or certificate of deposit account with us today. Accounts designed with you in mind.
Find a Branch
Get to know your local team by visiting one of our branches. We’re proud to serve Middle and East Tennessee.
Meet with Someone
Whether you’re looking to explore account types or lending options, our staff is ready to assist you.
NMLS ID# 537499