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Save on Taxes and Interest with a Home Equity Loan

With a Fidelity Savings Fixed Rate Home Equity Loan you may be able to save money on our special low, locked-in interest rate that could be 100% tax-deductible (consult your tax advisor). You’ll enjoy the convenience of affordable monthly payments over a fixed time period.

With a Fidelity Savings Home Equity Standard or Preferred Variable Credit Line, or our Fixed Rate Credit Line, you can also enjoy lower interest rates and tax savings benefits… and whenever you need money, just simply write one of your credit line checks.

Fidelity Savings home equity loan products are ideal when money is needed to conveniently obtain the important things you want in life such as education, a second home, home expansion, improvements or alterations, a car or other vehicle, or an extended vacation. You may also be able to save even more by paying off higher interest obligations such as growing balances on your credit cards.

Home equity loans provide the borrower with a lump sum of cash, a fixed rate, a fixed term and fixed monthly payments. There is no risk of payment change. Different terms allow for budgeting to fit the borrower’s needs. Home equity lines of credit give the homeowner the ability to draw funds, with special checks, when needed. These borrowing methods minimize out-of-pocket expenses and allow the homeowner to choose the best term for his or her budget.

	Home Equity Fixed Rate Loan	HELOC 15 Variable Rate Loan	HELOC 20 Variable Rate Loan	HELOC 10 Fixed Rate
What it’s for:	A one-time borrowing need	A one-time or ongoing borrowing needs	A one-time or ongoing borrowing needs	A one-time or ongoing borrowing needs
Loan Proceeds	One time cash out payment	Flexibility to use your available loan balance as needed during the loan term	Flexibility to use your available loan balance as needed during the loan term	Flexibility to use your available loan balance as needed during the loan term
Draw Period	Not Applicable	Credit Advances for 180 months	Credit Advances for 240 months	Credit Advances for 120 months
Minimum Transaction Advances	Not Applicable	Minimum credit advance $100	Minimum credit advance $250	Initial $1,000 then Minimum credit advance of $100
Monthly Repayments	Fixed Payments	Bases on 1/180 of Outstanding Principal Balance + Monthly Interest Charges	Bases on 1/240 of Outstanding Principal Balance + Monthly Interest Charges	Based on 1/120 of Outstanding Principal Balance + Monthly Interest Charges. At end of 10 yr.term, a Balloon Payment is due for Loan balance
Minimum Monthly Payment as of closing date of each billing statement	Not Applicable	Bases on 1/180 of Outstanding Principal Balance + Monthly Accrued Interest	Bases on 1/240 of Outstanding Principal Balance + Monthly Accrued Interest	Bases on 1/120 of Outstanding Principal Balance + Monthly Accrued Interest
Payment Options	Pay by Check or Automatic Deduction Available	Pay by Check or Automatic Deduction Available	Pay by Check or Automatic Deduction Available	Pay by Check or Automatic Deduction Available
Interest Rate	Fixed for Loan Term	Variable Index Rate based on W.S.J. Prime Rate. Floor 3.50%	Variable Index Rate based in W.S.J. Prime Rate less 0.26% Margin. Floor 3.50%	Fixed for Loan Term
Fees and Charges*	See Disclosure	See Disclosure	See Disclosure	See Disclosure
Discount*	0.25% with Automatic Payment from a Qualified Fidelity Savings Statment Account	Not Applicable	Not Applicable	Not Applicable
Minimum Term*	Up to 20 Year Term for Repayment	180 Months	240 Months	Loan Balance after 10 Years requires a Balloon Payment or Refinance
Relationship Account*	Suggested, but nor a requirement	Suggested, but nor a requirement	A minimum $25,000 2 year Fidelity Savings CD required during life of loan	A minimum $25,000 2 year Fidelity Savings CD required during life of loan
Access to Money	Loan Proceeds paid in one check or by other methods	Convenient Special Checks or at Banking Offices	Convenient Special Checks or at Banking Offices	Convenient Special Checks or at Banking Offices

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Home equity loans and home equity lines of credit for investment properties are also available for non-owner occupied single family dwellings (excluding condos). It is the perfect loan to renovate or improve your investment property.

Bring your home improvement renovation ideas to us and we will help you turn those dreams into reality! One of the many Fidelity Savings’ loans will fit your plans for kitchen remodeling, bath modernization, garage or room additions, porch enclosure, recreation/family room, a new roof, siding or fireplace installation. These are examples of how you can use Fidelity Savings’ home equity loan products. We are sure that you have a special need; please call (215-788-0448) or visit with a Fidelity Savings’ Loan Officer. We’ll help you get the job done!

You can also choose one of our popular Fidelity Savings’ loans to make YOUR home more valuable and livable. Please ask a Fidelity Savings Loan Officer about a savings account or certificate of deposit loan on your Fidelity Savings’ deposit account, refinance (cash out) mortgage loans, fixed rate or adjustable rate mortgage loans, and personal loans.

We Can Make A Difference; Let Us Show You How!

How home equity loans work – Your home has a current market value, which is determined by an independent appraisal. The DIFFERENCE between your property’s appraised value LESS recorded debt, such as your purchase mortgage, EQUALS the equity in your property. (Example: Property’s $100,000 appraisal X say a 75% Credit Limit = $75,000 percentage of appraised value minus the $40,000 balance of secured loans equals property borrowable equity of $35,000). Fidelity Savings home equity loan products allow you to borrow using your equity as collateral. To be eligible for a home equity loan product, the borrower must have a good credit history and pledge the residential dwelling as collateral for the loan; other monthly recurring contractual debt payments are also considered. Choose a term that fits your budget.

To find out whether you’re in a good borrowing position, and the maximum amount you should be able to borrow, take our Fidelity Savings Home Equity Loan Test. Then call us at (215) 788-0448 or apply online today with our Secure Loan Application. We’ll get back to you right away with the answer you need.

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