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The First EquiLoan Account

The First EquiLoan Account is similar to the First EquiLine Account in that credit is loaned to you using the same lendable equity formula in your primary residence. However, it is a more traditional loan because it offers the security of a fixed monthly payment and a low interest rate. You are able to borrow a specific amount for a specific term (anywhere from 3 to 10 years) with the comfort of knowing that your payment amount with be the same each month. These disciplined monthly payments will also help you rebuild the equity in your home faster. You’ll find the First EquiLoan Account useful for lump sum short term expenses like purchasing an automobile or bill consolidation. Add on the potential to deduct interest paid, and The First EquiLoan Account is a smart way to meet your financial goals.

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