Check with your tax advisor to determine if this is a tax deductible option for you.
We offer Home Equity Loans, Energy Equity Loans, and Home Equity Lines of Credit. See which option is the best fit for you:
Best if:
Best if:
Rates & Terms
Rates & Terms
Access to Funds
Access to Funds
Minimum Loan Amount
Minimum Loan Amount
Maximum Loan Amount
Maximum Loan Amount
Maximum Combined Loan to Value
Maximum Combined Loan to Value
Closing Costs
Closing Costs
Home Equity Loan
Best if:
You need to make a single, large purchase at a certain price.
Rates & Terms
A fixed interest rate and terms up to 15 years.
Access to Funds
The borrowed amount is paid to you in one lump sum.
Minimum Loan Amount
$5,000
Maximum Loan Amount
$250,000
Maximum Combined Loan to Value
Up to 90%
Closing Costs
Closing costs will be unique to your loan and may include a property appraisal fee. EastRise will cover a portion of other closing costs.
Energy Equity Loan
Best if:
You’re looking to finance energy improvements of any kind on your primary home.
Rates & Terms
A discounted, fixed interest rate and terms up to 15 years.
Access to Funds
The borrowed funds can be made payable to your contractor.
Minimum Loan Amount
$5,000
Maximum Loan Amount
$250,000
Maximum Combined Loan to Value
Up to 90%
Closing Costs
We work with you to minimize closing costs, making it more affordable.
Home Equity Line of Credit
Best if:
You aren’t sure of the final price, or if it is a recurring cost.
Rates & Terms
A revolving line of credit with a variable interest rate that will be available to you for up to 15 years.
Access to Funds
You can tap into your line of credit whenever you need the money.
Minimum Loan Amount
$5,000
Maximum Loan Amount
$250,000
Maximum Combined Loan to Value
Up to 90%
Closing Costs
Closing costs will be unique to your loan and may include a property appraisal fee. EastRise will cover a portion of other closing costs.
|
Type |
Loan to Value |
Term |
APR as low as1 |
|---|---|---|---|
| Rates effective 10/30/2024 | |||
|
APR = annual percentage rate and reflects the current minimum APR offered. |
|||
|
Type Fixed rate |
Loan to Value Up to 80% |
Term 60 months |
APR as low as1 6.375% |
|
Type Fixed rate |
Loan to Value Up to 80% |
Term 120 months |
APR as low as1 7.25% |
|
Type Fixed rate |
Loan to Value Up to 80% |
Term 180 months |
APR as low as1 7.74% |
|
Type Fixed rate |
Loan to Value Greater than 80% up to 90% |
Term 60 months |
APR as low as1 7.375% |
|
Type Fixed rate |
Loan to Value Greater than 80% up to 90% |
Term 120 months |
APR as low as1 8.25% |
|
Type Fixed rate |
Loan to Value Greater than 80% up to 90% |
Term 180 months |
APR as low as1 8.74% |
|
Type |
Loan to Value |
Term |
APR as low as1 |
|---|---|---|---|
| Rates effective 10/30/2024 | |||
|
APR = annual percentage rate and reflects the current minimum APR offered. |
|||
|
Type Fixed Rate |
Loan to Value Up to 80% |
Term 60 months |
APR as low as1 5.99% |
|
Type Fixed Rate |
Loan to Value Up to 80% |
Term 120 months |
APR as low as1 6.75% |
|
Type Fixed Rate |
Loan to Value Up to 80% |
Term 180 months |
APR as low as1 7.25% |
|
Type Fixed Rate |
Loan to Value Greater than 80% up to 90% |
Term 60 months |
APR as low as1 6.99% |
|
Type Fixed Rate |
Loan to Value Greater than 80% up to 90% |
Term 120 months |
APR as low as1 7.75% |
|
Type Fixed Rate |
Loan to Value Greater than 80% up to 90% |
Term 180 months |
APR as low as1 8.25% |
|
Type |
Loan to Value |
APR as low as2 |
|---|---|---|
| Rates effective 10/30/2024 | ||
|
APR = annual percentage rate and reflects the current minimum APR offered. |
||
|
Type Monthly adjustable rate |
Loan to Value Up to 80% |
APR as low as2 7.50% |
|
Type Monthly adjustable rate |
Loan to Value Greater than 80% up to 90% |
APR as low as2 9.00% |
|
Term |
APR as low as |
|---|---|
| Rates effective 10/30/2024 | |
|
APR = annual percentage rate and reflects the current minimum APR offered. MyChoice Mortgage maximum Loan To Value 85% or less. |
|
|
Term 1 to 8 years |
APR as low as 5.125% |
|
Term 9 years |
APR as low as 5.250% |
|
Term 10 years |
APR as low as 5.375% |
MyChoice Mortgage allows you to craft your very own financing option. You choose the terms of your loan!
Simply select your fixed rate and a term from one to ten years, and get a mortgage that is truly tailored to your individual goals. Plus, the shorter the term, the lower the rate.
MyChoice Mortgage is designed to be quick and easy. In most cases, no appraisal is needed and closing costs are generally limited to $150.
Before committing to a project that may be eligible for the 30% Federal Investment Tax Credit, please consult with your tax advisor to determine your tax credit eligibility. The Federal Investment Tax Credit is not a guaranteed refund. You must qualify for this credit based on your annual tax liability. EastRise does not provide tax advice.
Submit your application online or chat with one of our home equity experts to decide which Home Equity Loan or Line of Credit is right for you.
APR = annual percentage rate may be adjusted based on individual credit standing and term. Payment Example: $25,000 loan for 60 months at 5.99% APR will have a monthly payment of $482.25.
A home equity line of credit is a variable rate loan that may adjust monthly. Rates are as low as 4.50% APR as a floor and a maximum APR of 18.00%. APR may be adjusted based on individual credit standing and term. Members can borrow against the available line of credit for a period of 15 years, after which time the existing balance must be paid in full by making a monthly principal and interest payment in a new 15-year repayment period. Closing costs range from $130 to $1,500 to cover the appraisal fee and title update fee. A late fee of 5% of the payment may be charged for a payment more than 15 days late.