Home Improvement
Home Improvement Loans
Our home improvement loan helps to cover the cost of materials, helps pay for contractors, and can cover any unexpected expenses that crop up along the way - and with big renovation projects, you always need to expect the unexpected.
With features including:
Subject property must be primary residence. All borrowers must be on the title and occupy the property. Borrower will need to submit a contractor’s bid sheet or a detailed materials list with pricing. Other terms and conditions apply; subject to credit approval.
Home Equity Loan
A Home Equity Loan1 is the perfect way to find "extra" cash for big expenses. Get a one-time lump sum with a fixed-rate and consistent monthly payments.
With features including:
Home Equity Line of Credit
Not sure how much you need? Our Visa® Home Equity Line of Credit2 works similar to a credit card. You're given a set credit limit, which you can borrow from and repay as needed.
With features including:
Fixed Advance Home Equity Line of Credit
We now offer a fixed-rate advance for HELOCs, allowing you to lock in your HELOC balance in part or in full at a low fixed rate to help you save even more. Plus, decide the length of the loan you would like with term options up to 10 years.
With features including:
Home Equity Comparison
| Type | Fixed Rate Home Equity Loan | Visa® Home Equity Line of Credit |
|---|---|---|
| Loan-To-Value (LTV) | 100% | 100% |
| Access to Funds | Funds disbursed in a single check or deposited into the Robins Financial account of your choice. | Anywhere Visa® is accepted, ATMs, any Robins Financial location, Digital Banking. |
| Payment Options | Fixed monthly payments with direct payments from any Robins Financial account. | 1.5% of balance plus unpaid interest |
| States Available | Georgia (Primary residence only). | Georgia (Primary residence only). |
For example, if your home has a market value of $100,000 and you still owe $50,000 on your first mortgage, your total available equity (the maximum amount you can borrow) is calculated as follows:
| Total Available Equity | Fixed Rate Home Equity Loan or Visa® Home Equity Line of Credit |
|---|---|
| Estimated Market Value | $100,000 |
| Percentage LTV | 100% |
| Percentage of Market Value | $100,000 |
| Less Mortgage Debt | $50,000 |
| Available Equity | $50,000 |
FAQS
What is a Visa® Home Equity Line of Credit?
Get the money you need when you need it. Use this revolving line of credit based on the available equity in your home.
What is a Fixed Rate Home Equity Loan?
Use your home's equity to buy what you need now. Receive your money all at once then pay it back in stable, fixed monthly payments.
What is LTV?
Credit Unions and other lenders will extend credit based upon a percentage called Loan-To-Value, or LTV. LTV measures the amount of available equity that you have in your home. Equity is calculated by taking a percentage of the estimated market value of your home minus the amount you still owe on your first mortgage.
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Home Equity Loans Disclosures
1Property must be primary residence and located in the state of Georgia. Modular homes are not eligible.
Home Mortgage Disclosure Act Notice: The HMDA data about our residential mortgage lending is available for review. The data show geographic distribution of loans and applications: ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. To receive a copy of these data send a written request to P.O. Box 6849, Warner Robins, GA 31095-6849 or HMDA data can be viewed on the Consumer Financial Protection Bureau’s website at https://www.consumerfinance.gov/hmda. -
Home Equity Line of Credit Disclosures
2Property must be primary residence and located in the state of Georgia. Modular homes are not eligible. Rates as low as Prime minus 1%. **Floor rate is 4.00%. The maximum APR that can apply is 18.00%. Prime is a variable rate; as it changes, the APR on your account will also change.
View our Full Home Equity Early Disclosure for more details.
Home Mortgage Disclosure Act Notice: The HMDA data about our residential mortgage lending is available for review. The data show geographic distribution of loans and applications: ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. To receive a copy of these data send a written request to P.O. Box 6849, Warner Robins, GA 31095-6849 or HMDA data can be viewed on the Consumer Financial Protection Bureau’s website at https://www.consumerfinance.gov/hmda.
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