This is a fixed-rate installment loan with a term of 15 years fully amortized¹. Monthly payments are fixed throughout the life of the loan which makes budgeting easier. Depending on the equity in your home, you could borrow up to 80% combined LTV of the value of your home. Major Advantages:

Tax advantage: Interest may be 100% tax deductible².

Fixed monthly payment: Same monthly payment for the life of the loan makes budgeting easier.

High borrowing power: You can borrow up to 80% combined LTV of the value of your home at a competitive interest rate.

¹ As of 6/13/07, for $10,000 borrowed at 180 months fully amortized at an 8% APR, the monthly payment is $95.56.
²Consult with your tax advisor regarding deductibility of interest.