Equity Builder Loan
Many people have very little equity in their homes for the first few years. That leaves them with little or no borrowing power when they need to make improvements. Northwestern's Equity Builder loan allows you to borrow based on the "after-renovation" value of your home.
- One closing, no hassle
- Interest-only payments until improvements are complete
- Ideal for major improvements: garages, new windows, siding, etc.
- Second homes and investment properties eligible
- Flexible draw terms
- Tax-deductible interest (check with your tax advisor)
- Fixed-rate loan, locked for 5 years
- No pre-payment penalty
- Competitive rates
- Doesn't affect your current mortgage rate
Ready to make home improvements now? Don't have enough equity yet? Get a Northwestern Equity Builder Loan!